Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 3.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 449,139 shares of the retailer’s stock after selling 15,061 shares during the quarter. Costco Wholesale accounts for 0.5% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 23rd biggest position. Mirae Asset Global Investments Co. Ltd. owned approximately 0.10% of Costco Wholesale worth $241,567,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of COST. Moneta Group Investment Advisors LLC raised its holdings in shares of Costco Wholesale by 118,320.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock valued at $3,376,513,000 after purchasing an additional 7,390,278 shares during the last quarter. Norges Bank bought a new position in Costco Wholesale in the fourth quarter valued at $2,328,844,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in Costco Wholesale by 218,503.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,563,232 shares of the retailer’s stock valued at $1,918,373,000 after buying an additional 3,561,602 shares during the last quarter. Morgan Stanley lifted its position in Costco Wholesale by 18.0% during the 4th quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock worth $3,941,708,000 after buying an additional 1,315,174 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Costco Wholesale by 172.6% during the 2nd quarter. Barclays PLC now owns 1,357,548 shares of the retailer’s stock worth $730,877,000 after buying an additional 859,599 shares during the last quarter. 66.31% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Stifel Nicolaus upped their target price on Costco Wholesale from $575.00 to $595.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group increased their price objective on Costco Wholesale from $610.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. StockNews.com assumed coverage on shares of Costco Wholesale in a report on Thursday, October 5th. They set a “buy” rating on the stock. UBS Group upped their price target on shares of Costco Wholesale from $560.00 to $640.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Oppenheimer lifted their price objective on shares of Costco Wholesale from $575.00 to $630.00 and gave the company an “outperform” rating in a research report on Tuesday, July 25th. Six investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $586.43.
Check Out Our Latest Report on COST
Costco Wholesale Stock Performance
Shares of COST stock traded down $1.80 on Friday, hitting $576.78. The company’s stock had a trading volume of 594,304 shares, compared to its average volume of 1,801,342. Costco Wholesale Co. has a fifty-two week low of $447.90 and a fifty-two week high of $599.89. 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 stock’s 50 day moving average is $563.48 and its 200-day moving average is $541.75. The company has a market capitalization of $255.36 billion, a PE ratio of 40.86, a PEG ratio of 4.44 and a beta of 0.78.
Costco Wholesale (NASDAQ:COST – Get Free Report) last announced its earnings results on Tuesday, September 26th. The retailer reported $4.86 EPS for the quarter, topping the consensus estimate of $4.79 by $0.07. The company had revenue of $78.94 billion for the quarter, compared to analysts’ expectations of $77.72 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 28.10%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $4.20 earnings per share. Equities research analysts expect that Costco Wholesale Co. will post 15.71 earnings per share for the current fiscal year.
Costco Wholesale Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 3rd will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $4.08 dividend on an annualized basis and a dividend yield of 0.71%. Costco Wholesale’s payout ratio is 28.81%.
Insider Transactions at Costco Wholesale
In other news, CFO Richard A. Galanti sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $566.09, for a total value of $1,132,180.00. Following the completion of the transaction, the chief financial officer now directly owns 25,412 shares in the company, valued at approximately $14,385,479.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Costco Wholesale news, EVP Caton Frates sold 1,200 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $562.64, for a total transaction of $675,168.00. Following the completion of the transaction, the executive vice president now owns 8,363 shares of the company’s stock, valued at $4,705,358.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard A. Galanti sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $566.09, for a total transaction of $1,132,180.00. Following the completion of the sale, the chief financial officer now owns 25,412 shares in the company, valued at $14,385,479.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,265 shares of company stock valued at $10,797,118. 0.22% of the stock is owned by corporate insiders.
Costco Wholesale Profile
(Free Report)
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.
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