Royal Fund Management LLC Invests $67,000 in Costco Wholesale Co. (NASDAQ:COST)

Royal Fund Management LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the first quarter, HoldingsChannel.com reports. The fund purchased 238 shares of the retailer’s stock, valued at approximately $67,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COST. Your Advocates Ltd. LLP acquired a new stake in shares of Costco Wholesale during the first quarter worth about $28,000. Sageworth Trust Co acquired a new stake in Costco Wholesale in the 4th quarter valued at approximately $29,000. Tobias Financial Advisors Inc. acquired a new stake in Costco Wholesale in the 4th quarter valued at approximately $29,000. Beutel Goodman & Co Ltd. acquired a new stake in Costco Wholesale in the 4th quarter valued at approximately $29,000. Finally, ERTS Wealth Advisors LLC acquired a new stake in Costco Wholesale in the 4th quarter valued at approximately $30,000. 69.20% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Costco Wholesale from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Telsey Advisory Group reissued an “outperform” rating on shares of Costco Wholesale in a research report on Monday, March 2nd. Stifel Nicolaus lifted their target price on Costco Wholesale from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, March 6th. UBS Group lifted their target price on Costco Wholesale from $335.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Finally, Deutsche Bank decreased their price target on Costco Wholesale from $292.00 to $290.00 and set a “hold” rating for the company in a research note on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $318.54.

In related news, CFO Richard A. Galanti sold 1,448 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $306.51, for a total value of $443,826.48. Following the completion of the sale, the chief financial officer now directly owns 23,967 shares in the company, valued at approximately $7,346,125.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Decker sold 1,000 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $314.83, for a total value of $314,830.00. Following the completion of the sale, the director now owns 32,582 shares of the company’s stock, valued at $10,257,791.06. The disclosure for this sale can be found here. Insiders sold a total of 7,448 shares of company stock valued at $2,308,656 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Shares of NASDAQ COST opened at $302.43 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.52 and a debt-to-equity ratio of 0.44. Costco Wholesale Co. has a 12 month low of $233.05 and a 12 month high of $325.26. The stock has a 50 day moving average of $304.26 and a 200-day moving average of $301.92. The company has a market capitalization of $133.34 billion, a P/E ratio of 35.50, a P/E/G ratio of 4.21 and a beta of 0.71.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, March 5th. The retailer reported $2.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.04. Costco Wholesale had a return on equity of 23.41% and a net margin of 2.39%. The company had revenue of $39.10 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the company posted $2.01 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts predict that Costco Wholesale Co. will post 8.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a yield of 0.93%. Costco Wholesale’s payout ratio is 34.19%.

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

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