Janney Montgomery Scott LLC increased its position in Costco Wholesale Co. (NASDAQ:COST) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,020 shares of the retailer’s stock after buying an additional 806 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Costco Wholesale were worth $16,713,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in COST. Country Club Trust Company n.a. lifted its holdings in shares of Costco Wholesale by 8.0% during the fourth quarter. Country Club Trust Company n.a. now owns 6,556 shares of the retailer’s stock valued at $1,336,000 after purchasing an additional 484 shares during the last quarter. Regent Investment Management LLC lifted its holdings in shares of Costco Wholesale by 43.5% during the first quarter. Regent Investment Management LLC now owns 1,485 shares of the retailer’s stock valued at $360,000 after purchasing an additional 450 shares during the last quarter. Bernicke Wealth Management Ltd. lifted its holdings in shares of Costco Wholesale by 3.3% during the fourth quarter. Bernicke Wealth Management Ltd. now owns 4,017 shares of the retailer’s stock valued at $818,000 after purchasing an additional 127 shares during the last quarter. Ruggie Capital Group purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at $61,000. Finally, TCI Wealth Advisors Inc. lifted its holdings in shares of Costco Wholesale by 2.5% during the fourth quarter. TCI Wealth Advisors Inc. now owns 7,782 shares of the retailer’s stock valued at $1,585,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 71.32% of the company’s stock.
Shares of COST stock opened at $249.51 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $251.01. The stock has a market capitalization of $109.94 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 3.52 and a beta of 0.94.
Costco Wholesale declared that its Board of Directors has authorized a stock repurchase program on Friday, April 26th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the retailer to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $0.65 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, May 9th. Costco Wholesale’s dividend payout ratio is presently 38.07%.
In other Costco Wholesale news, VP Richard A. Galanti sold 4,188 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $230.47, for a total value of $965,208.36. Following the transaction, the vice president now directly owns 30,082 shares of the company’s stock, valued at approximately $6,932,998.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Susan L. Decker sold 2,350 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $240.00, for a total value of $564,000.00. Following the completion of the transaction, the director now directly owns 46,239 shares in the company, valued at $11,097,360. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,587 shares of company stock worth $2,004,576. Insiders own 0.21% of the company’s stock.
Several equities research analysts recently issued reports on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $265.00 price objective (up from $250.00) on shares of Costco Wholesale in a research note on Tuesday, April 9th. Stifel Nicolaus increased their price objective on Costco Wholesale from $247.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Robert W. Baird increased their price objective on Costco Wholesale from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Oppenheimer increased their price objective on Costco Wholesale from $245.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Finally, Nomura increased their price objective on Costco Wholesale from $230.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $249.90.
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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