OPSEU Pension Plan Trust Fund lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 9.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,838 shares of the retailer’s stock after purchasing an additional 772 shares during the period. Costco Wholesale comprises 1.0% of OPSEU Pension Plan Trust Fund’s holdings, making the stock its 7th biggest position. OPSEU Pension Plan Trust Fund’s holdings in Costco Wholesale were worth $3,148,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Rock Creek Group LP lifted its position in Costco Wholesale by 13.0% during the third quarter. Rock Creek Group LP now owns 1,190 shares of the retailer’s stock valued at $422,000 after acquiring an additional 137 shares during the last quarter. O Shares Investment Advisers LLC acquired a new position in shares of Costco Wholesale in the second quarter valued at approximately $4,418,000. North Star Investment Management Corp. grew its holdings in Costco Wholesale by 2.0% during the 3rd quarter. North Star Investment Management Corp. now owns 9,567 shares of the retailer’s stock worth $3,396,000 after acquiring an additional 188 shares in the last quarter. Ascension Asset Management LLC acquired a new position in Costco Wholesale during the 3rd quarter worth approximately $1,977,000. Finally, Oak Grove Capital LLC grew its holdings in Costco Wholesale by 155.9% during the 2nd quarter. Oak Grove Capital LLC now owns 36,045 shares of the retailer’s stock worth $10,929,000 after acquiring an additional 21,958 shares in the last quarter. 68.20% of the stock is owned by hedge funds and other institutional investors.
COST has been the subject of several analyst reports. Credit Suisse Group boosted their price target on shares of Costco Wholesale from $328.00 to $370.00 and gave the stock a “neutral” rating in a report on Tuesday, October 6th. BidaskClub upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Thursday, October 29th. Jefferies Financial Group upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and boosted their price target for the stock from $321.00 to $435.00 in a report on Thursday, October 15th. BMO Capital Markets boosted their price target on shares of Costco Wholesale from $340.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, September 25th. Finally, Citigroup boosted their price objective on shares of Costco Wholesale from $345.00 to $365.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $376.33.
In other news, Director Kenneth D. Denman sold 300 shares of the company’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $355.69, for a total transaction of $106,707.00. Following the transaction, the director now directly owns 4,433 shares of the company’s stock, valued at approximately $1,576,773.77. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Joseph P. Portera sold 6,000 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $348.00, for a total transaction of $2,088,000.00. Following the transaction, the vice president now directly owns 6,211 shares in the company, valued at $2,161,428. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,554 shares of company stock worth $3,669,587. Corporate insiders own 0.22% of the company’s stock.
COST traded up $7.22 during trading on Tuesday, hitting $387.01. The stock had a trading volume of 78,165 shares, compared to its average volume of 2,800,552. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.13. The firm has a market capitalization of $167.57 billion, a P/E ratio of 42.11, a PEG ratio of 4.58 and a beta of 0.66. The company’s 50-day moving average price is $369.64 and its 200 day moving average price is $333.70. Costco Wholesale Co. has a twelve month low of $271.28 and a twelve month high of $389.50.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 24th. The retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. Costco Wholesale had a net margin of 2.40% and a return on equity of 22.71%. The company had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $52.03 billion. During the same period in the previous year, the company posted $2.69 EPS. Costco Wholesale’s revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts expect that Costco Wholesale Co. will post 9.69 earnings per share for the current fiscal year.
The business also recently declared a special dividend, which will be paid on Friday, December 11th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $10.00 per share. This is a boost from Costco Wholesale’s previous special dividend of $7.00. Costco Wholesale’s dividend payout ratio is 31.64%.
Costco Wholesale Profile
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.
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