Mogy Joel R Investment Counsel Inc. raised its holdings in Costco Wholesale Co. (NASDAQ:COST) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 109,823 shares of the retailer’s stock after buying an additional 1,155 shares during the quarter. Costco Wholesale accounts for 3.6% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 9th largest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Costco Wholesale were worth $26,593,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of COST. Lenox Wealth Management Inc. raised its position in shares of Costco Wholesale by 125.9% during the fourth quarter. Lenox Wealth Management Inc. now owns 122 shares of the retailer’s stock worth $25,000 after purchasing an additional 68 shares during the period. Horan Capital Advisors LLC. acquired a new position in shares of Costco Wholesale during the first quarter worth approximately $26,000. ERTS Wealth Advisors LLC acquired a new position in shares of Costco Wholesale during the fourth quarter worth approximately $30,000. Arbor Wealth Management LLC acquired a new position in shares of Costco Wholesale during the fourth quarter worth approximately $33,000. Finally, PRW Wealth Management LLC acquired a new position in shares of Costco Wholesale during the fourth quarter worth approximately $36,000. 72.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on COST. Telsey Advisory Group reaffirmed an “outperform” rating and set a $265.00 target price (up from $250.00) on shares of Costco Wholesale in a research report on Tuesday, April 9th. Stifel Nicolaus upped their price target on Costco Wholesale from $247.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Robert W. Baird upped their price target on Costco Wholesale from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Oppenheimer upped their price target on Costco Wholesale from $245.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, Nomura upped their price target on Costco Wholesale from $230.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Costco Wholesale has a consensus rating of “Buy” and an average target price of $249.90.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.34. The firm had revenue of $35.40 billion during the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same quarter last year, the company earned $1.59 EPS. On average, equities analysts forecast that Costco Wholesale Co. will post 7.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.57. Costco Wholesale’s dividend payout ratio is 38.07%.
Costco Wholesale declared that its Board of Directors has initiated a share repurchase plan on Friday, April 26th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the retailer to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other Costco Wholesale news, Director John W. Meisenbach acquired 3,000 shares of Costco Wholesale stock in a transaction on Monday, April 1st. The stock was purchased at an average price of $242.65 per share, for a total transaction of $727,950.00. Following the purchase, the director now directly owns 12,833 shares of the company’s stock, valued at $3,113,927.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan L. Decker sold 2,049 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $232.00, for a total value of $475,368.00. Following the completion of the transaction, the director now owns 48,589 shares of the company’s stock, valued at approximately $11,272,648. The disclosure for this sale can be found here. Insiders sold a total of 8,587 shares of company stock valued at $2,004,576 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.
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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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