Cpwm LLC raised its holdings in Costco Wholesale Co. (NASDAQ:COST) by 244.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,386 shares of the retailer’s stock after acquiring an additional 30,807 shares during the quarter. Costco Wholesale comprises 1.5% of Cpwm LLC’s portfolio, making the stock its 15th largest position. Cpwm LLC’s holdings in Costco Wholesale were worth $10,505,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cidel Asset Management Inc. increased its stake in Costco Wholesale by 15.2% in the first quarter. Cidel Asset Management Inc. now owns 55,283 shares of the retailer’s stock worth $13,386,000 after purchasing an additional 7,303 shares during the period. NBT Bank N A NY increased its holdings in shares of Costco Wholesale by 3.0% in the 1st quarter. NBT Bank N A NY now owns 2,616 shares of the retailer’s stock valued at $633,000 after acquiring an additional 75 shares during the last quarter. Harvest Group Wealth Management LLC purchased a new position in shares of Costco Wholesale in the 1st quarter valued at about $42,000. W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in shares of Costco Wholesale by 2.0% in the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 20,416 shares of the retailer’s stock valued at $5,013,000 after acquiring an additional 392 shares during the last quarter. Finally, Chilton Investment Co. LLC increased its holdings in shares of Costco Wholesale by 1.3% in the 1st quarter. Chilton Investment Co. LLC now owns 437,736 shares of the retailer’s stock valued at $105,993,000 after acquiring an additional 5,484 shares during the last quarter. 71.08% of the stock is currently owned by institutional investors.
A number of analysts recently issued reports on COST shares. Wells Fargo & Co reissued a “hold” rating on shares of Costco Wholesale in a research report on Friday, March 8th. JPMorgan Chase & Co. increased their price objective on Costco Wholesale to $248.00 and gave the stock an “overweight” rating in a research report on Friday, March 8th. Raymond James increased their price objective on Costco Wholesale from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Royal Bank of Canada increased their price objective on Costco Wholesale from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Finally, BidaskClub raised Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $253.27.
Costco Wholesale stock traded down $0.71 during mid-day trading on Monday, hitting $263.55. 1,706,363 shares of the company were exchanged, compared to its average volume of 1,947,229. 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 firm has a 50 day moving average price of $253.89. The firm has a market cap of $116.82 billion, a P/E ratio of 38.59, a P/E/G ratio of 3.71 and a beta of 0.94. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $268.94.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.06. The company had revenue of $34.74 billion during the quarter, compared to the consensus estimate 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 was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.70 earnings per share. Analysts forecast that Costco Wholesale Co. will post 8.04 EPS for the current year.
Costco Wholesale declared that its Board of Directors has approved a share buyback program on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to buy up to 3.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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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