Harvest Fund Management Co. Ltd grew its holdings in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,012 shares of the retailer’s stock after purchasing an additional 813 shares during the quarter. Costco Wholesale comprises about 0.7% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 27th biggest position. Harvest Fund Management Co. Ltd’s holdings in Costco Wholesale were worth $3,237,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Morgan Stanley raised its holdings in shares of Costco Wholesale by 18.0% during the 4th quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock valued at $3,941,708,000 after purchasing an additional 1,315,174 shares in the last quarter. Geode Capital Management LLC raised its holdings in Costco Wholesale by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 8,210,385 shares of the retailer’s stock worth $4,069,186,000 after acquiring an additional 111,505 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Costco Wholesale by 118,320.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock worth $3,376,513,000 after acquiring an additional 7,390,278 shares during the period. Bank of New York Mellon Corp raised its holdings in Costco Wholesale by 10.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,595,523 shares of the retailer’s stock worth $2,780,247,000 after acquiring an additional 535,776 shares during the period. Finally, Norges Bank bought a new position in Costco Wholesale in the 4th quarter worth $2,328,844,000. Institutional investors own 66.31% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on COST shares. VNET Group reiterated a “reiterates” rating on shares of Costco Wholesale in a report on Thursday, June 29th. Robert W. Baird lifted their target price on shares of Costco Wholesale from $535.00 to $550.00 in a report on Friday, July 7th. Telsey Advisory Group reiterated an “outperform” rating and issued a $575.00 target price on shares of Costco Wholesale in a report on Monday, August 28th. Oppenheimer lifted their target price on shares of Costco Wholesale from $575.00 to $630.00 and gave the stock an “outperform” rating in a report on Tuesday, July 25th. Finally, Loop Capital lifted their target price on shares of Costco Wholesale from $545.00 to $570.00 in a report on Friday, June 2nd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $566.63.
Read Our Latest Stock Report on COST
Insider Buying and Selling at Costco Wholesale
In other Costco Wholesale news, Director Susan L. Decker sold 1,565 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $533.00, for a total value of $834,145.00. Following the transaction, the director now directly owns 13,329 shares in the company, valued at $7,104,357. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.22% of the company’s stock.
Costco Wholesale Price Performance
Shares of Costco Wholesale stock opened at $564.77 on Friday. The firm has a market cap of $250.25 billion, a P/E ratio of 41.83, a price-to-earnings-growth ratio of 4.13 and a beta of 0.79. Costco Wholesale Co. has a twelve month low of $447.90 and a twelve month high of $571.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.57 and a current ratio of 1.08. The firm’s 50-day simple moving average is $550.04 and its 200-day simple moving average is $518.55.
Costco Wholesale Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were given a $1.02 dividend. The ex-dividend date was Thursday, August 24th. This represents a $4.08 dividend on an annualized basis and a yield of 0.72%. Costco Wholesale’s dividend payout ratio (DPR) is presently 30.22%.
Costco Wholesale Company Profile
(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.
Further Reading
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