Polaris Greystone Financial Group LLC increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 4,845.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,407 shares of the retailer’s stock after acquiring an additional 39,590 shares during the quarter. Polaris Greystone Financial Group LLC’s holdings in Costco Wholesale were worth $11,520,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Costco Wholesale by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 37,343,168 shares of the retailer’s stock valued at $9,868,305,000 after purchasing an additional 508,650 shares during the period. FMR LLC raised its stake in shares of Costco Wholesale by 5.0% during the 1st quarter. FMR LLC now owns 10,924,782 shares of the retailer’s stock valued at $2,645,326,000 after purchasing an additional 518,843 shares during the period. Northern Trust Corp raised its stake in shares of Costco Wholesale by 1.0% during the 2nd quarter. Northern Trust Corp now owns 6,379,195 shares of the retailer’s stock valued at $1,685,767,000 after purchasing an additional 60,035 shares during the period. Invesco Ltd. raised its stake in shares of Costco Wholesale by 4.6% during the 2nd quarter. Invesco Ltd. now owns 4,818,879 shares of the retailer’s stock valued at $1,273,437,000 after purchasing an additional 211,017 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in shares of Costco Wholesale by 40,778.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,772,976 shares of the retailer’s stock valued at $1,261,307,000 after purchasing an additional 4,761,300 shares during the period. Institutional investors and hedge funds own 71.07% of the company’s stock.
Costco Wholesale stock traded up $6.30 during midday trading on Wednesday, hitting $298.19. 705,475 shares of the company’s stock were exchanged, compared to its average volume of 2,006,531. Costco Wholesale Co. has a 52-week low of $189.51 and a 52-week high of $307.34. The stock has a 50-day moving average price of $289.20 and a two-hundred day moving average price of $265.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 1.01. The company has a market cap of $128.27 billion, a P/E ratio of 36.41, a PEG ratio of 3.76 and a beta of 0.94.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, August 29th. Costco Wholesale’s payout ratio is 31.75%.
A number of research firms recently issued reports on COST. Goldman Sachs Group began coverage on Costco Wholesale in a research note on Thursday, July 11th. They set a “buy” rating and a $290.00 price objective on the stock. Bank of America boosted their price objective on Costco Wholesale from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 price objective on the stock in a research note on Tuesday, June 11th. Gordon Haskett upgraded Costco Wholesale from a “hold” rating to an “accumulate” rating and boosted their price objective for the company from $255.00 to $330.00 in a research note on Friday, September 20th. Finally, Evercore ISI reiterated a “buy” rating on shares of Costco Wholesale in a research note on Sunday, August 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $293.13.
About Costco Wholesale
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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