North Star Investment Management Corp. Grows Position in Costco Wholesale Co. (NASDAQ:COST)

North Star Investment Management Corp. lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 51.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,359 shares of the retailer’s stock after purchasing an additional 3,500 shares during the quarter. North Star Investment Management Corp.’s holdings in Costco Wholesale were worth $2,985,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Great Valley Advisor Group Inc. acquired a new stake in shares of Costco Wholesale during the second quarter worth $470,000. Beese Fulmer Investment Management Inc. acquired a new position in Costco Wholesale in the second quarter valued at $4,462,000. Raymond James & Associates boosted its holdings in Costco Wholesale by 8.5% in the first quarter. Raymond James & Associates now owns 467,707 shares of the retailer’s stock valued at $113,252,000 after acquiring an additional 36,675 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Costco Wholesale by 17.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 182,589 shares of the retailer’s stock valued at $44,218,000 after acquiring an additional 27,026 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in Costco Wholesale by 0.4% in the second quarter. Aperio Group LLC now owns 357,259 shares of the retailer’s stock valued at $94,409,000 after acquiring an additional 1,421 shares during the last quarter. Institutional investors and hedge funds own 71.08% of the company’s stock.

COST has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 target price on the stock in a report on Tuesday, June 11th. Nomura lifted their target price on Costco Wholesale from $235.00 to $256.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their target price on Costco Wholesale from $271.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, September 9th. ValuEngine cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, BidaskClub cut Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company. Costco Wholesale currently has an average rating of “Buy” and an average price target of $286.04.

Shares of NASDAQ COST traded up $4.62 during midday trading on Thursday, reaching $289.73. 962,593 shares of the company’s stock were exchanged, compared to its average volume of 2,387,033. Costco Wholesale Co. has a 52-week low of $189.51 and a 52-week high of $307.34. The stock has a market capitalization of $126.71 billion, a PE ratio of 42.42, a price-to-earnings-growth ratio of 3.82 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98. The business’s fifty day moving average price is $286.93 and its two-hundred day moving average price is $263.39.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Thursday, August 29th. Costco Wholesale’s payout ratio is 38.07%.

Costco Wholesale Company Profile

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.

Further Reading: Support Level

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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