Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,025 shares of the retailer's stock, valued at approximately $1,337,000. Costco Wholesale comprises about 1.0% of Ables Iannone Moore & Associates Inc.'s investment portfolio, making the stock its 21st biggest position.
Several other hedge funds and other institutional investors also recently made changes to their positions in COST. Richelieu Gestion SA bought a new stake in Costco Wholesale during the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new stake in Costco Wholesale during the 4th quarter worth approximately $26,000. Morton Brown Family Wealth LLC boosted its stake in shares of Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer's stock valued at $30,000 after purchasing an additional 30 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Costco Wholesale in the 4th quarter valued at $30,000. Finally, Vima LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at $34,000. 68.48% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently commented on COST. Argus upped their price objective on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a "buy" rating in a research note on Tuesday, May 28th. StockNews.com raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Sunday, June 2nd. Citigroup upped their price objective on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a "neutral" rating in a research note on Friday, May 31st. Tigress Financial upped their price objective on shares of Costco Wholesale from $745.00 to $870.00 and gave the company a "buy" rating in a research note on Friday, March 15th. Finally, DA Davidson reiterated a "neutral" rating and set a $680.00 target price on shares of Costco Wholesale in a research report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus target price of $751.85.
Read Our Latest Stock Report on COST
Costco Wholesale Stock Up 0.3 %
Shares of NASDAQ COST traded up $2.84 during trading on Tuesday, hitting $870.75. The stock had a trading volume of 1,762,364 shares, compared to its average volume of 1,969,597. The company has a market capitalization of $386.03 billion, a PE ratio of 53.95, a PEG ratio of 5.66 and a beta of 0.79. The firm has a fifty day moving average of $780.22 and a two-hundred day moving average of $727.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 12 month low of $516.54 and a 12 month high of $873.96.
Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.08. The company had revenue of $58.52 billion during the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.43 earnings per share. As a group, equities research analysts forecast that Costco Wholesale Co. will post 15.96 EPS for the current fiscal year.
Costco Wholesale Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Thursday, April 25th. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.02. Costco Wholesale's dividend payout ratio (DPR) is currently 28.75%.
Costco Wholesale Profile
(Free Report)
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.
Featured Articles
- Five stocks we like better than Costco Wholesale
- What Are the FAANG Stocks and Are They Good Investments?
- Occidental Stock: Buffett's 9-Day Buying Spree Lifts Stake to 29%
- Pros And Cons Of Monthly Dividend Stocks
- 3M Stock: Invest Now for Unmatched Quality and Growth Potential
- 5 discounted opportunities for dividend growth investors
- Super Micro AI Stock: Should You Invest After a 275% Increase?
→ The asset beating inflation by 4x (From Colonial Metals) (Ad)
Should you invest $1,000 in Costco Wholesale right now?
Before you consider Costco Wholesale, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Costco Wholesale wasn't on the list.
While Costco Wholesale currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The 10 Best AI Stocks to Own in 2024
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
