Mirae Asset Global Investments Co. Ltd. Buys 20,010 Shares of Costco Wholesale Corporation $COST

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COSTFree Report) by 12.2% in the third quarter, Holdings Channel.com reports. The fund owned 183,487 shares of the retailer’s stock after purchasing an additional 20,010 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Costco Wholesale were worth $169,841,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of COST. Soundwatch Capital LLC boosted its holdings in shares of Costco Wholesale by 635.7% during the 2nd quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer’s stock valued at $25,000 after purchasing an additional 2,206 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new position in Costco Wholesale during the second quarter valued at approximately $31,000. Financial Connections Group Inc. boosted its stake in Costco Wholesale by 975.0% during the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock valued at $42,000 after buying an additional 39 shares during the last quarter. Frazier Financial Advisors LLC grew its holdings in Costco Wholesale by 72.0% during the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock valued at $43,000 after buying an additional 18 shares in the last quarter. Finally, Marquette Asset Management LLC increased its stake in Costco Wholesale by 2,200.0% in the 3rd quarter. Marquette Asset Management LLC now owns 46 shares of the retailer’s stock worth $43,000 after acquiring an additional 44 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

COST stock opened at $965.55 on Wednesday. The stock has a market cap of $428.58 billion, a PE ratio of 51.59, a P/E/G ratio of 5.86 and a beta of 1.02. Costco Wholesale Corporation has a 12 month low of $844.06 and a 12 month high of $1,078.23. The company has a 50-day moving average price of $903.08 and a 200 day moving average price of $929.49. The company has a current ratio of 1.04, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19.

Costco Wholesale (NASDAQ:COSTGet Free Report) last posted its quarterly earnings data on Thursday, December 11th. The retailer reported $4.34 earnings per share for the quarter, topping analysts’ consensus estimates of $4.27 by $0.07. Costco Wholesale had a net margin of 2.96% and a return on equity of 29.35%. The company had revenue of $67.31 billion for the quarter, compared to analyst estimates of $67.03 billion. During the same period in the prior year, the company posted $4.04 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, January 30th. Costco Wholesale’s dividend payout ratio (DPR) is currently 27.85%.

Wall Street Analyst Weigh In

COST has been the subject of a number of research reports. TD Cowen reiterated a “buy” rating on shares of Costco Wholesale in a research report on Friday, December 12th. Mizuho set a $1,000.00 price objective on shares of Costco Wholesale and gave the company an “outperform” rating in a research report on Monday, January 5th. DA Davidson reissued a “neutral” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research note on Thursday, December 4th. Oppenheimer reduced their target price on shares of Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Truist Financial reduced their price objective on Costco Wholesale from $1,033.00 to $926.00 and set a “hold” rating on the stock in a research note on Friday, December 12th. Twenty-one research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $996.00.

Check Out Our Latest Analysis on COST

Key Headlines Impacting Costco Wholesale

Here are the key news stories impacting Costco Wholesale this week:

Insider Activity at Costco Wholesale

In other news, EVP William Richard Wilcox sold 2,400 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the completion of the sale, the executive vice president directly owned 2,000 shares of the company’s stock, valued at approximately $1,860,260. The trade was a 54.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James C. Klauer sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $939.00, for a total transaction of $1,408,500.00. Following the completion of the transaction, the executive vice president owned 44,837 shares in the company, valued at approximately $42,101,943. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,315 shares of company stock worth $8,549,409 over the last quarter. 0.10% of the stock is owned by insiders.

Costco Wholesale Company Profile

(Free Report)

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.

Further Reading

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COSTFree Report).

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

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