Robecosam AG Acquires Shares of 4,429 Costco Wholesale Co. (COST)
Robecosam AG acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,429 shares of the retailer’s stock, valued at approximately $924,000.
Other institutional investors and hedge funds have also modified their holdings of the company. MUFG Securities EMEA plc bought a new stake in shares of Costco Wholesale during the second quarter worth $103,000. Well Done LLC bought a new stake in shares of Costco Wholesale during the first quarter worth $109,000. Smart Portfolios LLC bought a new stake in shares of Costco Wholesale during the first quarter worth $113,000. Trilogy Capital Inc. bought a new stake in shares of Costco Wholesale during the first quarter worth $116,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Costco Wholesale during the second quarter worth $119,000. Hedge funds and other institutional investors own 72.19% of the company’s stock.
In related news, VP James P. Murphy sold 15,000 shares of the company’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $219.22, for a total value of $3,288,300.00. Following the completion of the sale, the vice president now owns 33,834 shares in the company, valued at $7,417,089.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $218.65, for a total value of $655,950.00. The disclosure for this sale can be found here. Insiders sold 41,491 shares of company stock valued at $8,754,977 in the last quarter. 0.74% of the stock is currently owned by corporate insiders.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 31st. The retailer reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.02. The business had revenue of $32.36 billion during the quarter, compared to the consensus estimate of $31.89 billion. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.40 earnings per share. equities research analysts predict that Costco Wholesale Co. will post 6.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $2.28 dividend on an annualized basis and a yield of 0.99%. Costco Wholesale’s dividend payout ratio is presently 39.18%.
COST has been the subject of a number of recent research reports. ValuEngine upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Wells Fargo & Co boosted their target price on Costco Wholesale from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, July 12th. Gordon Haskett downgraded Costco Wholesale from a “buy” rating to an “accumulate” rating in a research report on Wednesday, July 25th. Loop Capital initiated coverage on Costco Wholesale in a research report on Wednesday, May 16th. They set a “buy” rating and a $224.00 target price for the company. Finally, Robert W. Baird boosted their target price on Costco Wholesale from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, June 7th. Nine equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $209.86.
Costco Wholesale 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.
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