DAVENPORT & Co LLC reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 150,505 shares of the retailer’s stock after selling 974 shares during the period. DAVENPORT & Co LLC’s holdings in Costco Wholesale were worth $80,781,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aspire Private Capital LLC purchased a new position in Costco Wholesale during the 1st quarter worth $20,406,948,000. Mach 1 Financial Group LLC acquired a new stake in shares of Costco Wholesale in the 1st quarter worth $22,359,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Costco Wholesale in the 4th quarter worth $26,000. Impact Partnership Wealth LLC acquired a new stake in shares of Costco Wholesale in the 2nd quarter worth $37,000. Finally, 25 LLC acquired a new stake in shares of Costco Wholesale in the 1st quarter worth $44,000. 66.31% of the stock is owned by hedge funds and other institutional investors.
Costco Wholesale Price Performance
Costco Wholesale stock opened at $564.96 on Friday. The company has a market cap of $250.33 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 4.10 and a beta of 0.79. The firm has a 50 day moving average price of $554.37 and a 200 day moving average price of $525.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 1.07. Costco Wholesale Co. has a 1 year low of $447.90 and a 1 year high of $572.18.
Costco Wholesale (NASDAQ:COST – Get Free Report) last posted its quarterly earnings results on Tuesday, September 26th. The retailer reported $4.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.79 by $0.07. The firm had revenue of $78.94 billion for the quarter, compared to analysts’ expectations of $77.72 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 28.10%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.20 earnings per share. Sell-side analysts predict that Costco Wholesale Co. will post 15.69 earnings per share for the current year.
Costco Wholesale Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $4.08 annualized dividend and a yield of 0.72%. Costco Wholesale’s payout ratio is 28.81%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on COST. Roth Mkm raised their target price on shares of Costco Wholesale from $482.00 to $502.00 and gave the stock a “neutral” rating in a research note on Wednesday. Robert W. Baird raised their target price on shares of Costco Wholesale from $535.00 to $550.00 in a research note on Friday, July 7th. VNET Group restated a “reiterates” rating on shares of Costco Wholesale in a research note on Thursday, June 29th. Jefferies Financial Group raised their price objective on shares of Costco Wholesale from $610.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Morgan Stanley raised their price objective on shares of Costco Wholesale from $535.00 to $585.00 and gave the company an “overweight” rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $580.93.
View Our Latest Stock Report on Costco Wholesale
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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