IPG Investment Advisors LLC cut its position in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 9.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 643 shares of the retailer’s stock after selling 66 shares during the quarter. IPG Investment Advisors LLC’s holdings in Costco Wholesale were worth $366,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evolution Advisers Inc. acquired a new position in Costco Wholesale in the 4th quarter valued at $28,000. Consolidated Planning Corp acquired a new position in Costco Wholesale in the 3rd quarter valued at $41,000. AHL Investment Management Inc. acquired a new position in Costco Wholesale in the 4th quarter valued at $43,000. Cranbrook Wealth Management LLC raised its holdings in Costco Wholesale by 24.4% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 102 shares of the retailer’s stock valued at $46,000 after acquiring an additional 20 shares in the last quarter. Finally, Cordasco Financial Network raised its holdings in Costco Wholesale by 23.8% in the 3rd quarter. Cordasco Financial Network now owns 104 shares of the retailer’s stock valued at $47,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 67.52% of the company’s stock.
COST has been the subject of several analyst reports. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $595.00 price objective for the company in a report on Monday, March 21st. Robert W. Baird lowered their price target on Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com started coverage on Costco Wholesale in a report on Thursday, March 31st. They set a “buy” rating for the company. Evercore ISI boosted their price target on Costco Wholesale from $605.00 to $610.00 in a report on Thursday, April 7th. Finally, Loop Capital lowered their price target on Costco Wholesale from $650.00 to $610.00 and set a “buy” rating for the company in a report on Friday. Six investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $566.44.
Shares of Costco Wholesale stock opened at $470.76 on Friday. Costco Wholesale Co. has a one year low of $375.50 and a one year high of $612.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 0.51. The stock’s 50-day moving average is $536.64 and its 200 day moving average is $531.32. The firm has a market cap of $208.65 billion, a price-to-earnings ratio of 37.93, a PEG ratio of 4.00 and a beta of 0.70.
Costco Wholesale (NASDAQ:COST – Get Rating) last announced its earnings results on Thursday, May 26th. The retailer reported $3.04 EPS for the quarter, beating the consensus estimate of $3.03 by $0.01. Costco Wholesale had a return on equity of 30.10% and a net margin of 2.62%. The company had revenue of $52.60 billion for the quarter, compared to analyst estimates of $51.49 billion. During the same quarter in the prior year, the company earned $2.75 EPS. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, sell-side analysts expect that Costco Wholesale Co. will post 12.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were paid a dividend of $0.90 per share. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.79. This represents a $3.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, April 28th. Costco Wholesale’s dividend payout ratio is 29.01%.
Costco Wholesale Company Profile (Get Rating)
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
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