Forum Financial Management LP trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 30.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,295 shares of the retailer’s stock after selling 1,899 shares during the quarter. Forum Financial Management LP’s holdings in Costco Wholesale were worth $2,313,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. JB Capital LLC raised its position in shares of Costco Wholesale by 15.4% during the 2nd quarter. JB Capital LLC now owns 748 shares of the retailer’s stock valued at $403,000 after buying an additional 100 shares in the last quarter. Albion Financial Group UT raised its position in shares of Costco Wholesale by 0.9% during the 2nd quarter. Albion Financial Group UT now owns 29,371 shares of the retailer’s stock valued at $15,813,000 after buying an additional 259 shares in the last quarter. Braun Bostich & Associates Inc. purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at about $206,000. Fifth Third Bancorp raised its position in shares of Costco Wholesale by 3.9% during the 2nd quarter. Fifth Third Bancorp now owns 207,248 shares of the retailer’s stock valued at $111,578,000 after buying an additional 7,754 shares in the last quarter. Finally, Canvas Wealth Advisors LLC raised its position in shares of Costco Wholesale by 26.9% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 1,302 shares of the retailer’s stock valued at $734,000 after buying an additional 276 shares in the last quarter. 66.31% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Roth Mkm increased their price objective on shares of Costco Wholesale from $482.00 to $502.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 27th. VNET Group reissued a “reiterates” rating on shares of Costco Wholesale in a research report on Thursday, June 29th. HSBC assumed coverage on shares of Costco Wholesale in a research report on Friday, September 22nd. They issued a “hold” rating and a $600.00 price objective on the stock. Loop Capital increased their price objective on shares of Costco Wholesale from $615.00 to $630.00 in a research report on Thursday. Finally, Jefferies Financial Group increased their price objective on shares of Costco Wholesale from $610.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $586.25.
Check Out Our Latest Research Report on COST
Costco Wholesale Price Performance
NASDAQ COST opened at $557.53 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 1.07. The firm’s 50 day moving average price is $554.67 and its 200-day moving average price is $528.06. Costco Wholesale Co. has a 52-week low of $447.90 and a 52-week high of $576.19. The company has a market cap of $247.04 billion, a PE ratio of 39.37, a P/E/G ratio of 4.02 and a beta of 0.77.
Costco Wholesale (NASDAQ:COST – Get Free Report) last announced its earnings results on Tuesday, September 26th. The retailer reported $4.86 earnings per share for the quarter, beating the consensus estimate of $4.79 by $0.07. The company had revenue of $78.94 billion during the quarter, compared to the consensus estimate of $77.72 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 28.10%. Costco Wholesale’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $4.20 earnings per share. Sell-side analysts forecast that Costco Wholesale Co. will post 15.69 EPS for the current fiscal year.
Costco Wholesale Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were paid a $1.02 dividend. The ex-dividend date was Thursday, August 24th. This represents a $4.08 annualized dividend and a yield of 0.73%. Costco Wholesale’s dividend payout ratio (DPR) is 28.81%.
About Costco Wholesale
(Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Costco Wholesale, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Costco Wholesale wasn’t on the list.
While Costco Wholesale currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you’ll finally be able to invest in SpaceX, StarLink or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Source link
credite