Beacon Investment Advisory Services Inc. lessened its stake in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,393 shares of the retailer’s stock after selling 200 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Costco Wholesale were worth $2,494,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of COST. Core Alternative Capital purchased a new stake in Costco Wholesale during the third quarter worth $25,000. PSI Advisors LLC acquired a new position in shares of Costco Wholesale in the third quarter worth about $37,000. Consolidated Planning Corp purchased a new stake in shares of Costco Wholesale during the 3rd quarter worth about $41,000. AHL Investment Management Inc. acquired a new stake in shares of Costco Wholesale during the 4th quarter valued at about $43,000. Finally, Cranbrook Wealth Management LLC increased its stake in shares of 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 purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.
A number of equities research analysts recently issued reports on COST shares. Raymond James lifted their price target on shares of Costco Wholesale from $565.00 to $645.00 and gave the company an “outperform” rating in a research note on Tuesday. StockNews.com started coverage on shares of Costco Wholesale in a research note on Thursday, March 31st. They set a “buy” rating for the company. Evercore ISI lifted their price objective on Costco Wholesale from $605.00 to $610.00 in a report on Thursday, April 7th. BMO Capital Markets boosted their price objective on Costco Wholesale from $560.00 to $580.00 and gave the stock an “outperform” rating in a research note on Friday, March 4th. Finally, Credit Suisse Group restated a “hold” rating and issued a $570.00 target price on shares of Costco Wholesale in a research report on Friday, March 4th. Six investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale presently has an average rating of “Buy” and a consensus target price of $576.43.
Costco Wholesale (NASDAQ:COST – Get Rating) last released its quarterly earnings data on Thursday, March 3rd. The retailer reported $2.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.18. Costco Wholesale had a return on equity of 30.10% and a net margin of 2.62%. The business had revenue of $51.90 billion during the quarter, compared to analysts’ expectations of $51.51 billion. During the same period in the prior year, the firm posted $2.14 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts forecast that Costco Wholesale Co. will post 13.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, April 29th will be given a $0.90 dividend. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Thursday, April 28th. This represents a $3.60 annualized dividend and a yield of 0.61%. Costco Wholesale’s dividend payout ratio is 25.46%.
In related news, VP Roland Michael Vachris sold 3,318 shares of the stock in a transaction on Thursday, January 27th. The stock was sold at an average price of $492.45, for a total transaction of $1,633,949.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth D. Denman sold 250 shares of the business’s stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $554.67, for a total transaction of $138,667.50. The disclosure for this sale can be found here. Insiders have sold a total of 12,566 shares of company stock worth $7,051,086 over the last three months. 0.22% of the stock is currently owned by insiders.
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.
- Get a free copy of the StockNews.com research report on Costco Wholesale (COST)
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