Lido Advisors LLC boosted its holdings in Costco (NASDAQ:COST) by 20.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,575 shares of the retailer’s stock after purchasing an additional 1,105 shares during the period. Lido Advisors LLC’s holdings in Costco were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in COST. Jennison Associates LLC boosted its holdings in shares of Costco by 86.3% during the 4th quarter. Jennison Associates LLC now owns 6,611,043 shares of the retailer’s stock worth $1,230,447,000 after buying an additional 3,062,864 shares during the period. Magellan Asset Management Ltd raised its stake in Costco by 2.4% in the 4th quarter. Magellan Asset Management Ltd now owns 6,588,695 shares of the retailer’s stock worth $1,226,288,000 after purchasing an additional 154,320 shares in the last quarter. Geode Capital Management LLC raised its stake in Costco by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 5,013,862 shares of the retailer’s stock worth $931,370,000 after purchasing an additional 128,366 shares in the last quarter. Clearbridge Investments LLC raised its stake in Costco by 252.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,388,496 shares of the retailer’s stock worth $444,547,000 after purchasing an additional 1,711,003 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Costco by 2,114.9% in the 4th quarter. Fisher Asset Management LLC now owns 2,326,481 shares of the retailer’s stock worth $433,005,000 after purchasing an additional 2,221,445 shares in the last quarter. 71.49% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on COST shares. Wells Fargo & Co upgraded shares of Costco from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $191.42 to $188.91 in a research note on Monday, April 16th. BMO Capital Markets set a $223.00 price objective on shares of Costco and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Argus lifted their price objective on shares of Costco to $200.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Vetr upgraded shares of Costco from a “buy” rating to a “strong-buy” rating and set a $200.28 price objective for the company in a research note on Monday, February 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $205.00 target price (down from $209.00) on shares of Costco in a research report on Thursday, March 8th. Eight research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $193.37.
Costco (NASDAQ:COST) last released its earnings results on Wednesday, March 7th. The retailer reported $1.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.03). Costco had a net margin of 2.18% and a return on equity of 24.74%. The company had revenue of $33 billion for the quarter, compared to analyst estimates of $32.73 billion. During the same quarter in the previous year, the firm earned $1.17 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. equities research analysts expect that Costco will post 6.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be issued a dividend of $0.57 per share. This is an increase from Costco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $2.28 annualized dividend and a yield of 1.15%. Costco’s dividend payout ratio is presently 39.18%.
In other news, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $191.31, for a total value of $573,930.00. Following the completion of the sale, the director now owns 8,654 shares in the company, valued at $1,655,596.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Timothy L. Rose sold 17,000 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $185.33, for a total transaction of $3,150,610.00. Following the completion of the sale, the vice president now owns 34,903 shares of the company’s stock, valued at approximately $6,468,572.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,067 shares of company stock worth $11,700,142. Corporate insiders own 0.58% of the company’s stock.
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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