Tower Bridge Advisors Purchases 80 Shares of Costco Wholesale Co. (COST)
Tower Bridge Advisors grew its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,153 shares of the retailer’s stock after acquiring an additional 80 shares during the quarter. Tower Bridge Advisors’ holdings in Costco Wholesale were worth $1,974,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mogy Joel R Investment Counsel Inc. increased its holdings in shares of Costco Wholesale by 1.1% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 109,823 shares of the retailer’s stock valued at $26,593,000 after acquiring an additional 1,155 shares in the last quarter. Nichols & Pratt Advisers LLP MA increased its holdings in shares of Costco Wholesale by 0.9% during the first quarter. Nichols & Pratt Advisers LLP MA now owns 5,018 shares of the retailer’s stock valued at $1,215,000 after acquiring an additional 44 shares in the last quarter. Osborn Williams & Donohoe LLC increased its holdings in shares of Costco Wholesale by 403.7% during the first quarter. Osborn Williams & Donohoe LLC now owns 7,898 shares of the retailer’s stock valued at $1,905,000 after acquiring an additional 6,330 shares in the last quarter. Spinnaker Trust increased its holdings in shares of Costco Wholesale by 97.9% during the first quarter. Spinnaker Trust now owns 3,010 shares of the retailer’s stock valued at $728,000 after acquiring an additional 1,489 shares in the last quarter. Finally, Harrington Investments INC increased its holdings in shares of Costco Wholesale by 1.8% during the first quarter. Harrington Investments INC now owns 6,928 shares of the retailer’s stock valued at $1,678,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 71.32% of the company’s stock.
COST has been the subject of several recent research reports. Raymond James boosted their price objective on Costco Wholesale from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, March 8th. Nomura boosted their price objective on Costco Wholesale from $230.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Telsey Advisory Group restated an “outperform” rating on shares of Costco Wholesale in a report on Thursday, January 24th. Citigroup boosted their price objective on Costco Wholesale from $242.00 to $243.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, Morgan Stanley set a $220.00 price objective on Costco Wholesale and gave the company a “hold” rating in a report on Friday, March 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $249.90.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.34. The firm had revenue of $35.40 billion during the quarter. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. During the same quarter last year, the company earned $1.59 EPS. Sell-side analysts anticipate that Costco Wholesale Co. will post 7.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.57. Costco Wholesale’s dividend payout ratio is 38.07%.
Costco Wholesale announced that its Board of Directors has initiated a share repurchase program on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to buy up to 3.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
In related news, Director John W. Meisenbach acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were acquired at an average price of $242.65 per share, with a total value of $727,950.00. Following the acquisition, the director now owns 12,833 shares of the company’s stock, valued at approximately $3,113,927.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Decker sold 2,049 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $232.00, for a total value of $475,368.00. Following the sale, the director now directly owns 48,589 shares in the company, valued at approximately $11,272,648. The disclosure for this sale can be found here. Insiders sold a total of 8,587 shares of company stock valued at $2,004,576 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Tower Bridge Advisors Purchases 80 Shares of Costco Wholesale Co. (COST)” was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://theolympiareport.com/2019/05/23/tower-bridge-advisors-purchases-80-shares-of-costco-wholesale-co-cost.html.
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.
Read More: NASDAQ Stock Market Explained
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 Co. (NASDAQ:COST).
Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.