Institute for Wealth Management LLC. raised its position in Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,045 shares of the retailer’s stock after acquiring an additional 79 shares during the quarter. Costco Wholesale accounts for about 0.7% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 27th largest holding. Institute for Wealth Management LLC.’s holdings in Costco Wholesale were worth $2,743,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Costco Wholesale by 9.2% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 15,427 shares of the retailer’s stock valued at $4,399,000 after buying an additional 1,300 shares during the last quarter. Burns J W & Co. Inc. NY boosted its stake in shares of Costco Wholesale by 4.8% during the 2nd quarter. Burns J W & Co. Inc. NY now owns 11,274 shares of the retailer’s stock valued at $3,418,000 after buying an additional 513 shares during the last quarter. Clarius Group LLC boosted its stake in shares of Costco Wholesale by 5.0% during the 2nd quarter. Clarius Group LLC now owns 8,477 shares of the retailer’s stock valued at $2,570,000 after buying an additional 406 shares during the last quarter. First Allied Advisory Services Inc. boosted its stake in shares of Costco Wholesale by 7.8% during the 1st quarter. First Allied Advisory Services Inc. now owns 16,124 shares of the retailer’s stock valued at $4,597,000 after buying an additional 1,166 shares during the last quarter. Finally, Colony Group LLC boosted its stake in shares of Costco Wholesale by 14.3% during the 1st quarter. Colony Group LLC now owns 17,271 shares of the retailer’s stock valued at $4,925,000 after buying an additional 2,158 shares during the last quarter. Institutional investors own 68.79% of the company’s stock.
Several equities analysts have recently commented on the company. Guggenheim reiterated a “hold” rating on shares of Costco Wholesale in a research note on Monday, June 29th. Morgan Stanley raised their price objective on Costco Wholesale from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Atlantic Securities started coverage on Costco Wholesale in a research note on Monday, July 13th. They set an “overweight” rating and a $375.00 price objective on the stock. Robert W. Baird restated a “buy” rating and set a $335.00 price objective on shares of Costco Wholesale in a research note on Thursday, April 9th. Finally, Tigress Financial restated a “buy” rating on shares of Costco Wholesale in a research note on Friday, July 24th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and nineteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $326.46.
Shares of COST traded up $0.71 during trading hours on Friday, reaching $325.53. 2,150,823 shares of the company’s stock traded hands, compared to its average volume of 1,971,796. The firm has a market capitalization of $143.73 billion, a price-to-earnings ratio of 38.94, a P/E/G ratio of 4.57 and a beta of 0.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.11 and a quick ratio of 0.63. Costco Wholesale Co. has a twelve month low of $262.71 and a twelve month high of $331.49. The business’s fifty day simple moving average is $312.74 and its two-hundred day simple moving average is $306.86.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 28th. The retailer reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.03). The business had revenue of $36.45 billion for the quarter, compared to analyst estimates of $36.66 billion. Costco Wholesale had a net margin of 2.31% and a return on equity of 22.60%. Costco Wholesale’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.89 earnings per share. On average, equities research analysts expect that Costco Wholesale Co. will post 8.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, July 30th. Costco Wholesale’s dividend payout ratio (DPR) is 34.19%.
About Costco Wholesale
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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