Ropes Wealth Advisors LLC lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 46.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,115 shares of the retailer’s stock after acquiring an additional 675 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Costco Wholesale were worth $497,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in COST. DnB Asset Management AS raised its holdings in Costco Wholesale by 9.2% in the second quarter. DnB Asset Management AS now owns 69,802 shares of the retailer’s stock worth $14,587,000 after purchasing an additional 5,900 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Costco Wholesale by 45.8% in the second quarter. IFM Investors Pty Ltd now owns 19,819 shares of the retailer’s stock worth $4,142,000 after purchasing an additional 6,227 shares in the last quarter. Peachtree Investment Advisors Inc. raised its holdings in Costco Wholesale by 4.1% in the second quarter. Peachtree Investment Advisors Inc. now owns 10,785 shares of the retailer’s stock worth $2,254,000 after purchasing an additional 425 shares in the last quarter. YHB Investment Advisors Inc. raised its holdings in Costco Wholesale by 1.3% in the second quarter. YHB Investment Advisors Inc. now owns 54,053 shares of the retailer’s stock worth $11,296,000 after purchasing an additional 696 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Costco Wholesale by 4.4% in the second quarter. Fisher Asset Management LLC now owns 2,597,844 shares of the retailer’s stock worth $542,898,000 after purchasing an additional 109,028 shares in the last quarter. Hedge funds and other institutional investors own 71.49% of the company’s stock.
A number of equities analysts have commented on the stock. BidaskClub upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 23rd. Wells Fargo & Co boosted their target price on shares of Costco Wholesale from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, July 12th. Cowen reiterated a “buy” rating and issued a $240.00 target price on shares of Costco Wholesale in a report on Friday, August 10th. Telsey Advisory Group boosted their target price on shares of Costco Wholesale from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, August 7th. Finally, Loop Capital boosted their target price on shares of Costco Wholesale to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Nine research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Costco Wholesale presently has a consensus rating of “Buy” and a consensus target price of $237.94.
Shares of COST stock opened at $230.16 on Friday. Costco Wholesale Co. has a fifty-two week low of $163.78 and a fifty-two week high of $245.16. The stock has a market cap of $100.19 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.92 and a beta of 0.91. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.46 and a current ratio of 1.02.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The business had revenue of $44.41 billion for the quarter, compared to analyst estimates of $44.17 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts predict that Costco Wholesale Co. will post 7.7 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, November 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.99%. Costco Wholesale’s payout ratio is 33.38%.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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