Coatue Management LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 798 shares of the retailer’s stock, valued at approximately $242,000.
A number of other hedge funds have also added to or reduced their stakes in COST. Winslow Capital Management LLC bought a new position in Costco Wholesale in the 2nd quarter valued at approximately $178,629,000. 1832 Asset Management L.P. lifted its holdings in shares of Costco Wholesale by 59.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,537,077 shares of the retailer’s stock valued at $450,013,000 after buying an additional 572,815 shares during the period. FMR LLC lifted its holdings in shares of Costco Wholesale by 4.8% during the 2nd quarter. FMR LLC now owns 12,077,579 shares of the retailer’s stock valued at $3,662,043,000 after buying an additional 551,799 shares during the period. Invesco Ltd. lifted its holdings in shares of Costco Wholesale by 60.3% during the 1st quarter. Invesco Ltd. now owns 1,414,780 shares of the retailer’s stock valued at $403,397,000 after buying an additional 532,443 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Costco Wholesale by 110.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 894,576 shares of the retailer’s stock valued at $255,071,000 after buying an additional 470,248 shares during the period. 68.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of Costco Wholesale stock traded down $1.73 during trading on Friday, reaching $346.57. 2,556,300 shares of the stock traded hands, compared to its average volume of 1,829,345. Costco Wholesale Co. has a 52-week low of $271.28 and a 52-week high of $363.67. The business has a fifty day simple moving average of $336.45 and a two-hundred day simple moving average of $312.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.11 and a quick ratio of 0.63. The company has a market capitalization of $153.02 billion, a price-to-earnings ratio of 41.21, a P/E/G ratio of 4.40 and a beta of 0.69.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Thursday, July 30th. Costco Wholesale’s dividend payout ratio is presently 34.19%.
COST has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on Costco Wholesale from $365.00 to $405.00 and gave the company an “overweight” rating in a report on Friday. Telsey Advisory Group increased their price target on Costco Wholesale from $355.00 to $385.00 and gave the company an “outperform” rating in a report on Thursday. Robert W. Baird increased their price target on Costco Wholesale from $335.00 to $375.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Cowen upped their price objective on Costco Wholesale from $370.00 to $410.00 in a research note on Wednesday. Finally, Deutsche Bank upped their price objective on Costco Wholesale from $298.00 to $299.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $350.42.
In other Costco Wholesale news, CFO Richard A. Galanti sold 1,754 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $345.00, for a total value of $605,130.00. Following the sale, the chief financial officer now directly owns 18,983 shares of the company’s stock, valued at approximately $6,549,135. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Susan L. Decker sold 1,155 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $302.57, for a total transaction of $349,468.35. Following the completion of the sale, the director now directly owns 29,432 shares in the company, valued at $8,905,240.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,889 shares of company stock worth $8,968,019. Insiders own 0.22% of the company’s stock.
Costco Wholesale 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.
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