Gerber Kawasaki Wealth & Investment Management purchased a new position in Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,219 shares of the retailer’s stock, valued at approximately $248,000.
Other hedge funds also recently bought and sold shares of the company. Lenox Wealth Management Inc. increased its holdings in shares of Costco Wholesale by 125.9% in the fourth quarter. Lenox Wealth Management Inc. now owns 122 shares of the retailer’s stock worth $25,000 after buying an additional 68 shares during the period. Csenge Advisory Group purchased a new position in Costco Wholesale during the 3rd quarter valued at about $29,000. Essex Investment Management Co. LLC purchased a new position in Costco Wholesale during the 4th quarter valued at about $37,000. Mackey Komara & Dankovich LLC purchased a new position in Costco Wholesale during the 4th quarter valued at about $41,000. Finally, Evolution Wealth Advisors LLC purchased a new position in Costco Wholesale during the 4th quarter valued at about $41,000. Institutional investors own 71.20% of the company’s stock.
Shares of NASDAQ:COST opened at $233.60 on Friday. The company has a market cap of $102.90 billion, a PE ratio of 34.20, a P/E/G ratio of 3.12 and a beta of 0.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.96. Costco Wholesale Co. has a one year low of $180.83 and a one year high of $245.16.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.34. Costco Wholesale had a net margin of 2.34% and a return on equity of 25.53%. The company had revenue of $35.40 billion for the quarter. During the same period in the previous year, the business earned $1.59 earnings per share. Sell-side analysts anticipate that Costco Wholesale Co. will post 7.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 8th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, February 7th. This represents a $2.28 dividend on an annualized basis and a yield of 0.98%. Costco Wholesale’s dividend payout ratio is presently 33.38%.
In related news, Director Susan L. Decker sold 2,049 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $232.00, for a total transaction of $475,368.00. Following the completion of the sale, the director now owns 48,589 shares of the company’s stock, valued at approximately $11,272,648. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard A. Galanti sold 4,188 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total transaction of $965,208.36. Following the sale, the vice president now directly owns 30,082 shares of the company’s stock, valued at approximately $6,932,998.54. The disclosure for this sale can be found here. Insiders have sold 8,587 shares of company stock valued at $1,924,179 over the last 90 days. 0.21% of the stock is currently owned by insiders.
A number of research firms have weighed in on COST. TheStreet downgraded Costco Wholesale from an “a” rating to a “c” rating in a report on Wednesday, January 16th. Bank of America reissued a “buy” rating and issued a $255.00 price target on shares of Costco Wholesale in a research report on Friday, December 14th. Wells Fargo & Co dropped their price target on Costco Wholesale from $235.00 to $220.00 and set a “market perform” rating on the stock in a research report on Friday, December 14th. They noted that the move was a valuation call. Citigroup cut Costco Wholesale from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $257.00 to $238.00 in a research report on Monday, December 3rd. Finally, BidaskClub cut Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Friday, January 25th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $242.56.
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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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