Costco Wholesale Co. (COST) Shares Bought by Glenmede Trust Co. NA
Glenmede Trust Co. NA raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,206 shares of the retailer’s stock after acquiring an additional 4,780 shares during the period. Glenmede Trust Co. NA’s holdings in Costco Wholesale were worth $29,509,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cypress Capital Management LLC WY boosted its position in Costco Wholesale by 8.0% in the 2nd quarter. Cypress Capital Management LLC WY now owns 3,055 shares of the retailer’s stock valued at $638,000 after buying an additional 225 shares during the period. McIlrath & Eck LLC boosted its position in Costco Wholesale by 16.8% in the 2nd quarter. McIlrath & Eck LLC now owns 1,585 shares of the retailer’s stock valued at $331,000 after buying an additional 228 shares during the period. Moloney Securities Asset Management LLC boosted its position in Costco Wholesale by 11.5% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 2,327 shares of the retailer’s stock valued at $486,000 after buying an additional 240 shares during the period. Rational Advisors LLC boosted its position in Costco Wholesale by 6.7% in the 2nd quarter. Rational Advisors LLC now owns 3,862 shares of the retailer’s stock valued at $807,000 after buying an additional 242 shares during the period. Finally, BKD Wealth Advisors LLC boosted its position in Costco Wholesale by 20.8% in the 2nd quarter. BKD Wealth Advisors LLC now owns 1,435 shares of the retailer’s stock valued at $300,000 after buying an additional 247 shares during the period. Institutional investors own 71.49% of the company’s stock.
COST has been the subject of several research reports. BidaskClub raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 22nd. Stifel Nicolaus boosted their price target on shares of Costco Wholesale from $220.00 to $245.00 and gave the company a “buy” rating in a report on Friday, September 7th. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a report on Tuesday, September 11th. Loop Capital set a $265.00 price target on shares of Costco Wholesale and gave the company a “buy” rating in a report on Thursday, September 6th. Finally, Oppenheimer boosted their price target on shares of Costco Wholesale from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, August 21st. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $237.94.
Shares of NASDAQ COST traded up $5.13 during trading hours on Friday, hitting $226.95. 2,939,146 shares of the stock were exchanged, compared to its average volume of 2,232,079. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. The firm has a market cap of $103.00 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. Costco Wholesale Co. has a 12 month low of $157.00 and a 12 month high of $245.16.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, topping the consensus estimate of $2.34 by $0.02. The firm had revenue of $44.41 billion during the quarter, compared to analyst estimates of $44.17 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. Costco Wholesale’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.08 EPS. On average, equities research analysts anticipate that Costco Wholesale Co. will post 6.8 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, August 30th. Costco Wholesale’s dividend payout ratio is presently 39.18%.
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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