McGuire Investment Group LLC lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.8% in the 1st quarter, HoldingsChannel reports. The firm owned 24,728 shares of the retailer’s stock after acquiring an additional 193 shares during the period. Costco Wholesale comprises 2.0% of McGuire Investment Group LLC’s investment portfolio, making the stock its 17th largest holding. McGuire Investment Group LLC’s holdings in Costco Wholesale were worth $5,988,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its stake in Costco Wholesale by 20,897.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,652,688 shares of the retailer’s stock worth $165,000 after buying an additional 33,492,419 shares in the last quarter. Norges Bank purchased a new stake in Costco Wholesale in the fourth quarter worth approximately $868,633,000. BlackRock Inc. boosted its stake in Costco Wholesale by 2.6% in the fourth quarter. BlackRock Inc. now owns 28,778,155 shares of the retailer’s stock worth $5,862,398,000 after buying an additional 736,711 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Costco Wholesale by 120.7% in the fourth quarter. Two Sigma Advisers LP now owns 754,195 shares of the retailer’s stock worth $153,637,000 after buying an additional 412,400 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Costco Wholesale by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 6,036,155 shares of the retailer’s stock worth $1,227,757,000 after buying an additional 386,144 shares in the last quarter. 72.21% of the stock is owned by institutional investors.
Shares of Costco Wholesale stock opened at $241.34 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The company has a market cap of $105.65 billion, a P/E ratio of 35.34, a price-to-earnings-growth ratio of 3.46 and a beta of 0.94. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week high of $248.70.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 7th. The retailer reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.34. The company had revenue of $35.40 billion during the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same quarter in the prior year, the company earned $1.59 EPS. On average, equities analysts predict that Costco Wholesale Co. will post 7.9 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.57. Costco Wholesale’s dividend payout ratio is currently 33.38%.
Costco Wholesale declared that its board has initiated a share repurchase program on Friday, April 26th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the retailer to reacquire up to 3.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
A number of analysts have recently weighed in on COST shares. Barclays reissued a “hold” rating and set a $225.00 price objective on shares of Costco Wholesale in a research note on Wednesday, January 9th. Wells Fargo & Co reissued a “hold” rating on shares of Costco Wholesale in a research note on Friday, January 11th. TheStreet lowered Costco Wholesale from an “a” rating to a “c” rating in a research note on Wednesday, January 16th. BidaskClub lowered Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 25th. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of Costco Wholesale in a research note on Thursday, January 24th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $248.95.
In other Costco Wholesale news, Director John W. Meisenbach bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was bought at an average price of $242.65 per share, for a total transaction of $727,950.00. Following the completion of the acquisition, the director now directly owns 12,833 shares in the company, valued at $3,113,927.45. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard A. Galanti sold 4,188 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total value of $965,208.36. Following the transaction, the vice president now owns 30,082 shares of the company’s stock, valued at approximately $6,932,998.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,587 shares of company stock valued at $2,004,576. 0.21% of the stock is owned by corporate insiders.
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Costco Wholesale Company 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.
Read More: Intrinsic Value
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