We Are One Seven LLC Purchases Shares of 1,218 Costco Wholesale Co. (COST)
We Are One Seven LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,218 shares of the retailer’s stock, valued at approximately $286,000.
A number of other hedge funds have also recently modified their holdings of the business. Neville Rodie & Shaw Inc. increased its holdings in shares of Costco Wholesale by 1.4% in the third quarter. Neville Rodie & Shaw Inc. now owns 24,898 shares of the retailer’s stock worth $5,848,000 after buying an additional 350 shares during the period. Investment House LLC increased its holdings in shares of Costco Wholesale by 0.4% in the third quarter. Investment House LLC now owns 74,545 shares of the retailer’s stock worth $17,509,000 after buying an additional 320 shares during the period. Nwam LLC increased its holdings in shares of Costco Wholesale by 3.3% in the third quarter. Nwam LLC now owns 18,856 shares of the retailer’s stock worth $4,429,000 after buying an additional 605 shares during the period. Atria Investments LLC increased its holdings in shares of Costco Wholesale by 5.9% in the third quarter. Atria Investments LLC now owns 14,291 shares of the retailer’s stock worth $3,357,000 after buying an additional 790 shares during the period. Finally, Lenox Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the third quarter worth about $646,000. 71.49% of the stock is owned by hedge funds and other institutional investors.
In other Costco Wholesale news, VP James P. Murphy sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $219.22, for a total transaction of $3,288,300.00. Following the transaction, the vice president now owns 33,834 shares in the company, valued at approximately $7,417,089.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $235.81, for a total value of $707,430.00. Following the transaction, the director now owns 8,654 shares in the company, valued at approximately $2,040,699.74. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock worth $5,351,100 in the last quarter. Company insiders own 0.58% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. The firm had revenue of $44.41 billion for the quarter, compared to the consensus estimate of $44.17 billion. During the same quarter in the prior year, the business earned $2.08 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, analysts expect that Costco Wholesale Co. will post 6.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. Costco Wholesale’s dividend payout ratio (DPR) is 39.18%.
Several research analysts have recently commented on the company. Northcoast Research upgraded Costco Wholesale from a “neutral” rating to a “buy” rating in a report on Friday. Argus reiterated a “buy” rating and issued a $255.00 price objective on shares of Costco Wholesale in a report on Thursday. Loop Capital set a $265.00 price objective on Costco Wholesale and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada reduced their price target on Costco Wholesale from $255.00 to $253.00 and set an “outperform” rating on the stock in a report on Friday, October 5th. Finally, Bank of America set a $255.00 price target on Costco Wholesale and gave the company a “buy” rating in a report on Thursday, October 4th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Costco Wholesale currently has a consensus rating of “Buy” and an average price target of $237.94.
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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