Consolidated Portfolio Review Corp increased its position in Costco Wholesale Co. (NASDAQ:COST)

VaselineSeptember 2, 2024

0 4 minutes read

Consolidated Portfolio Review Corp increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 20.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 763 shares of the retailer’s stock after acquiring an additional 131 shares during the period. Consolidated Portfolio Review Corp’s holdings in Costco Wholesale were worth $649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Costco Wholesale in the fourth quarter valued at $3,628,694,000. Global Assets Advisory LLC acquired a new position in shares of Costco Wholesale in the first quarter worth $510,353,000. Assenagon Asset Management SA boosted its holdings in shares of Costco Wholesale by 287.3% in the second quarter. Assenagon Asset Management SA now owns 836,247 shares of the retailer’s stock worth $710,802,000 after purchasing an additional 620,341 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Costco Wholesale by 3,647.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock, valued at $374,688,000 , after buying an additional 552,492 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Costco Wholesale by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock valued at $26,640,940,000 after purchasing an additional 485,051 shares in the last quarter. 68.48% of shares are currently owned by institutional investors.

Insider buying and selling

In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which is accessible via this link. In related news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,974 shares of company stock worth $4,252,856. 0.18% of shares are owned by company insiders.

Changes in Analyst Ratings

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Several equities research analysts have weighed in on COST shares. TD Cowen boosted their price objective on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Citigroup boosted their price target on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $925.00 price objective on shares of Costco Wholesale in a research note on Tuesday, August 27th. Tigress Financial boosted their price target on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target for the company in a research note on Thursday, August 8th. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $824.50, according to MarketBeat .

Read the latest stock analysis on COST

Costco Wholesale Inventory Performance

Shares of COST stock opened at $892.38 on Monday. Costco Wholesale Co. it has a one year low of $539.31 and a one year high of $918.93. The firm has a market cap of $395.62 billion, a price-to-earnings ratio of 55.29, a PEG ratio of 5.98 and a beta of 0.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45, and a current ratio of 0.94. The firm has a 50 day simple moving average of $854.20 and a two hundred day simple moving average of $795.09.

Costco Wholesale (NASDAQ:COST – Get Your Free Report ) last released its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.08. The company had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. Costco Wholesale’s revenue was up 9.1% compared to the same quarter last year. In the same quarter last year, the firm earned $3.43 EPS. On average, equities analysts expect that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a dividend of $1.16 per share. The ex-dividend date was Friday, July 26. This represents an annualized dividend of $4.64 and a yield of 0.52%. Costco Wholesale’s payout ratio is currently 28.75%.

Costco Wholesale Company Profile

(Free report)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of member 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 wide range of merchandise categories.