Costco Wholesale Co. (NASDAQ:COST) Stake Increased by Ellevest Inc.

Ellevest Inc. lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 13,897.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,894 shares of the retailer’s stock after buying an additional 32,659 shares during the quarter. Ellevest Inc.’s holdings in Costco Wholesale were worth $59,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kistler Tiffany Companies LLC lifted its position in shares of Costco Wholesale by 1.5% during the first quarter. Kistler Tiffany Companies LLC now owns 2,771 shares of the retailer’s stock worth $671,000 after purchasing an additional 41 shares in the last quarter. Nachman Norwood & Parrott Inc increased its stake in Costco Wholesale by 4.1% during the first quarter. Nachman Norwood & Parrott Inc now owns 1,109 shares of the retailer’s stock valued at $269,000 after purchasing an additional 44 shares during the last quarter. Nichols & Pratt Advisers LLP MA increased its stake in Costco Wholesale by 0.9% during the first quarter. Nichols & Pratt Advisers LLP MA now owns 5,018 shares of the retailer’s stock valued at $1,215,000 after purchasing an additional 44 shares during the last quarter. Intl Fcstone Inc. increased its stake in Costco Wholesale by 3.7% during the first quarter. Intl Fcstone Inc. now owns 1,302 shares of the retailer’s stock valued at $315,000 after purchasing an additional 47 shares during the last quarter. Finally, Bigelow Investment Advisors LLC grew its position in shares of Costco Wholesale by 3.3% during the fourth quarter. Bigelow Investment Advisors LLC now owns 1,575 shares of the retailer’s stock worth $321,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 71.14% of the company’s stock.

In related news, Director John W. Meisenbach acquired 3,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was purchased at an average cost of $242.65 per share, for a total transaction of $727,950.00. Following the completion of the purchase, the director now directly owns 12,833 shares of the company’s stock, valued at approximately $3,113,927.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan L. Decker sold 2,350 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $240.00, for a total value of $564,000.00. Following the transaction, the director now owns 46,239 shares of the company’s stock, valued at $11,097,360. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,140 shares of company stock valued at $3,056,340. 0.21% of the stock is owned by company insiders.

Several equities research analysts recently weighed in on COST shares. Zacks Investment Research downgraded shares of Costco Wholesale from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Wells Fargo & Co restated a “hold” rating on shares of Costco Wholesale in a report on Friday, March 8th. JPMorgan Chase & Co. upped their target price on Costco Wholesale to $248.00 and gave the company an “overweight” rating in a report on Friday, March 8th. Raymond James upped their target price on Costco Wholesale from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, March 8th. Finally, Royal Bank of Canada upped their target price on Costco Wholesale from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, March 8th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and an average price target of $252.13.

COST opened at $257.11 on Wednesday. Costco Wholesale Co. has a 1-year low of $189.51 and a 1-year high of $259.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48. The company has a market capitalization of $113.07 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 3.59 and a beta of 0.91.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion during the quarter, compared to analysts’ expectations of $34.72 billion. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. Costco Wholesale’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 earnings per share. As a group, sell-side analysts predict that Costco Wholesale Co. will post 8.04 EPS for the current year.

Costco Wholesale announced that its Board of Directors has authorized a share buyback plan on Friday, April 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the retailer to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were given a $0.65 dividend. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 1.01%. The ex-dividend date was Thursday, May 9th. Costco Wholesale’s dividend payout ratio (DPR) is 38.07%.

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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.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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