Armis Advisers LLC Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)
Armis Advisers LLC has acquired a new position in Costco Wholesale Co. (NASDAQ:COST), purchasing 961 shares valued at approximately $881,000. Other institutional investors also increased their stakes in Costco during the fourth quarter. The stock opened at $1,008.50, with a market cap of $447.45 billion. Costco recently reported earnings of $4.02 per share, missing estimates, and declared a quarterly dividend of $1.30 per share. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and a target price of $1,024.03.
Armis Advisers LLC acquired a new position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 961 shares of the retailer's stock, valued at approximately $881,000.
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Several other institutional investors and hedge funds also recently bought and sold shares of COST. Norges Bank purchased a new position in Costco Wholesale during the fourth quarter worth $5,182,316,000. Proficio Capital Partners LLC boosted its stake in Costco Wholesale by 74,796.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer's stock worth $1,394,465,000 after buying an additional 1,519,861 shares during the period. Leigh Baldwin & CO. LLC purchased a new position in Costco Wholesale during the fourth quarter worth $95,452,000. Strategic Financial Concepts LLC lifted its position in shares of Costco Wholesale by 100,422.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer's stock worth $729,476,000 after purchasing an additional 795,345 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Costco Wholesale by 12.6% during the fourth quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock worth $4,817,573,000 after purchasing an additional 587,303 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.
Costco Wholesale Trading Down 0.9%
Shares of COST stock opened at $1,008.50 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The company has a market cap of $447.45 billion, a price-to-earnings ratio of 59.22, a PEG ratio of 6.15 and a beta of 1.00. The stock has a 50 day simple moving average of $973.21 and a 200-day simple moving average of $972.57. Costco Wholesale Co. has a 1-year low of $788.20 and a 1-year high of $1,078.24.
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Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.07). Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The business had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. On average, equities research analysts expect that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.
Costco Wholesale Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.52%. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale's payout ratio is presently 30.36%.
Analyst Upgrades and Downgrades
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COST has been the subject of several research analyst reports. Stifel Nicolaus decreased their target price on Costco Wholesale from $1,075.00 to $1,035.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Cowen reiterated a "buy" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Evercore ISI lifted their target price on Costco Wholesale from $1,050.00 to $1,070.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Finally, Mizuho started coverage on Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price objective for the company. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,024.03.
Get Our Latest Analysis on COST
Insider Buying and Selling
In other Costco Wholesale news, EVP Claudine Adamo sold 900 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the sale, the executive vice president now directly owns 6,987 shares in the company, valued at $6,445,926.72. This represents a 11.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Roland Michael Vachris sold 3,600 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the sale, the chief executive officer now owns 41,077 shares of the company's stock, valued at approximately $38,242,687. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,600 shares of company stock worth $9,140,195. 0.18% of the stock is owned by corporate insiders.
Costco Wholesale Company 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.
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