Abacus Planning Group Inc. lowered its position in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,107 shares of the retailer’s stock after selling 25 shares during the quarter. Abacus Planning Group Inc.’s holdings in Costco Wholesale were worth $1,213,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Costco Wholesale by 3.1% in the fourth quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock worth $17,643,166,000 after purchasing an additional 944,199 shares in the last quarter. State Street Corp boosted its position in Costco Wholesale by 10.2% during the 4th quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock valued at $10,389,605,000 after acquiring an additional 1,697,920 shares in the last quarter. Geode Capital Management LLC boosted its position in Costco Wholesale by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 7,372,449 shares of the retailer’s stock valued at $4,173,133,000 after acquiring an additional 246,857 shares in the last quarter. Alliancebernstein L.P. boosted its position in Costco Wholesale by 2.7% during the 4th quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock valued at $2,898,794,000 after acquiring an additional 133,943 shares in the last quarter. Finally, Norges Bank bought a new stake in Costco Wholesale during the 4th quarter valued at $2,323,746,000. 67.52% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the company. Robert W. Baird dropped their target price on Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a report on Wednesday, June 15th. Oppenheimer increased their price objective on Costco Wholesale to $525.00 in a report on Friday, June 3rd. BMO Capital Markets reiterated a “buy” rating and set a $580.00 price objective on shares of Costco Wholesale in a report on Monday, May 30th. Finally, Telsey Advisory Group decreased their price objective on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating for the company in a report on Friday, May 27th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $569.56.
Costco Wholesale (NASDAQ:COST – Get Rating) last posted its quarterly earnings data on Thursday, May 26th. The retailer reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.01. Costco Wholesale had a return on equity of 29.71% and a net margin of 2.60%. The company had revenue of $52.60 billion for the quarter, compared to analysts’ expectations of $51.49 billion. During the same period in the previous year, the firm posted $2.75 EPS. Costco Wholesale’s revenue was up 18.5% compared to the same quarter last year. Sell-side analysts expect that Costco Wholesale Co. will post 13.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.78%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Thursday, April 28th. Costco Wholesale’s payout ratio is presently 28.35%.
In other news, insider Daniel M. Hines sold 4,498 shares of the business’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $603.00, for a total transaction of $2,712,294.00. Following the transaction, the insider now directly owns 13,108 shares in the company, valued at approximately $7,904,124. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Timothy L. Rose sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $566.29, for a total value of $2,265,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,998 shares of company stock worth $5,278,469. 0.22% of the stock is currently owned by insiders.
Costco Wholesale 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.
- Get a free copy of the StockNews.com research report on Costco Wholesale (COST)
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