TD Asset Management Inc. trimmed its position in Costco Wholesale Co. (NASDAQ:COST) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,109,527 shares of the retailer’s stock after selling 3,462 shares during the quarter. TD Asset Management Inc. owned approximately 0.25% of Costco Wholesale worth $293,204,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of COST. FMR LLC grew its holdings in Costco Wholesale by 5.0% during the first quarter. FMR LLC now owns 10,924,782 shares of the retailer’s stock worth $2,645,326,000 after purchasing an additional 518,843 shares during the period. Geode Capital Management LLC raised its holdings in Costco Wholesale by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 6,036,155 shares of the retailer’s stock worth $1,227,757,000 after purchasing an additional 386,144 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Costco Wholesale by 4.9% during the first quarter. Janus Henderson Group PLC now owns 2,972,809 shares of the retailer’s stock worth $719,849,000 after purchasing an additional 137,549 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Costco Wholesale by 3.4% during the second quarter. Fisher Asset Management LLC now owns 2,938,564 shares of the retailer’s stock worth $776,545,000 after purchasing an additional 97,798 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Costco Wholesale by 11.5% during the first quarter. Clearbridge Investments LLC now owns 2,409,355 shares of the retailer’s stock worth $583,401,000 after purchasing an additional 249,464 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.
A number of research firms have issued reports on COST. Goldman Sachs Group began coverage on Costco Wholesale in a report on Thursday, July 11th. They issued a “buy” rating and a $290.00 target price on the stock. Oppenheimer upped their price objective on shares of Costco Wholesale from $270.00 to $295.00 in a research note on Wednesday, July 10th. Loop Capital increased their price target on shares of Costco Wholesale to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. They noted that the move was a valuation call. Citigroup decreased their price target on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, Deutsche Bank set a $252.00 price target on shares of Costco Wholesale and gave the stock a “hold” rating in a research note on Monday, July 15th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $263.77.
Shares of NASDAQ COST traded up $4.83 during trading hours on Tuesday, reaching $276.14. 107,730 shares of the stock were exchanged, compared to its average volume of 1,782,953. The company has a market cap of $120.48 billion, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 3.84 and a beta of 0.95. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week high of $284.31. The company’s fifty day simple moving average is $273.82.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.06. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The company had revenue of $34.74 billion during the quarter, compared to analyst estimates of $34.72 billion. During the same period in the previous year, the business earned $1.70 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, research analysts predict that Costco Wholesale Co. will post 8.04 EPS for the current fiscal year.
Costco Wholesale declared that its board has initiated a share repurchase program on Friday, April 26th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the retailer to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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