Power Corp of Canada Trims Stake in Costco Wholesale Co. (NASDAQ:COST)

Power Corp of Canada lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 28.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,757 shares of the retailer’s stock after selling 4,765 shares during the period. Power Corp of Canada’s holdings in Costco Wholesale were worth $7,761,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of COST. Norges Bank purchased a new position in shares of Costco Wholesale during the fourth quarter valued at about $3,628,694,000. International Assets Investment Management LLC grew its holdings in Costco Wholesale by 61,693.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock worth $2,049,630,000 after purchasing an additional 3,100,099 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in Costco Wholesale by 3,647.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock worth $374,688,000 after purchasing an additional 552,492 shares during the period. Alphinity Investment Management Pty Ltd purchased a new stake in Costco Wholesale in the fourth quarter worth about $297,915,000. Finally, Bank of Nova Scotia grew its holdings in Costco Wholesale by 175.5% in the fourth quarter. Bank of Nova Scotia now owns 553,972 shares of the retailer’s stock worth $365,628,000 after purchasing an additional 352,915 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST stock traded up $0.97 on Tuesday, hitting $849.31. 1,688,832 shares of the stock traded hands, compared to its average volume of 1,982,719. The firm has a market cap of $376.52 billion, a price-to-earnings ratio of 52.62, a PEG ratio of 5.60 and a beta of 0.79. Costco Wholesale Co. has a 52 week low of $516.00 and a 52 week high of $850.93. The firm has a 50 day simple moving average of $765.56 and a two-hundred day simple moving average of $717.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.70 by $0.08. The firm had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $3.43 EPS. As a group, equities research analysts predict that Costco Wholesale Co. will post 15.96 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.55%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date was Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on COST shares. Wells Fargo & Company upped their price objective on shares of Costco Wholesale from $750.00 to $775.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Telsey Advisory Group upped their price objective on shares of Costco Wholesale from $850.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Tigress Financial upped their target price on shares of Costco Wholesale from $745.00 to $870.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. DA Davidson reissued a “neutral” rating and set a $680.00 price target on shares of Costco Wholesale in a research report on Thursday, April 11th. Finally, Roth Mkm reissued a “neutral” rating and set a $676.00 price target (up previously from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $750.00.

Read Our Latest Report on COST

Insider Activity

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

About Costco Wholesale

(Free Report)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.

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

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