Costco Wholesale Co. (COST) Shares Bought by NEXT Financial Group Inc
NEXT Financial Group Inc boosted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 108.8% during the fourth quarter, HoldingsChannel reports. The firm owned 4,902 shares of the retailer’s stock after buying an additional 2,554 shares during the quarter. NEXT Financial Group Inc’s holdings in Costco Wholesale were worth $999,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Costco Wholesale by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,435,710 shares of the retailer’s stock valued at $337,220,000 after buying an additional 26,087 shares during the period. Frontier Investment Mgmt Co. purchased a new stake in Costco Wholesale during the 3rd quarter valued at $202,000. Lee Financial Co boosted its position in Costco Wholesale by 63.7% during the 3rd quarter. Lee Financial Co now owns 555 shares of the retailer’s stock valued at $130,000 after buying an additional 216 shares during the period. Brighton Jones LLC boosted its position in Costco Wholesale by 5.4% during the 3rd quarter. Brighton Jones LLC now owns 9,141 shares of the retailer’s stock valued at $2,147,000 after buying an additional 470 shares during the period. Finally, Destination Wealth Management boosted its position in Costco Wholesale by 1.6% during the 3rd quarter. Destination Wealth Management now owns 126,176 shares of the retailer’s stock valued at $29,636,000 after buying an additional 1,932 shares during the period. Institutional investors own 71.20% of the company’s stock.
Several research firms have recently commented on COST. Citigroup cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $257.00 to $238.00 in a research report on Monday, December 3rd. Bank of America set a $255.00 target price on shares of Costco Wholesale and gave the stock a “buy” rating in a research report on Friday, March 8th. Deutsche Bank set a $225.00 target price on shares of Costco Wholesale and gave the stock a “hold” rating in a research report on Friday, March 8th. Morgan Stanley set a $220.00 target price on shares of Costco Wholesale and gave the stock a “hold” rating in a research report on Friday, March 8th. Finally, BidaskClub raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $242.56.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.34. The company had revenue of $35.40 billion during the quarter. Costco Wholesale had a net margin of 2.34% and a return on equity of 25.53%. During the same quarter in the previous year, the business earned $1.59 earnings per share. Equities research analysts expect that Costco Wholesale Co. will post 7.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 8th were paid a $0.57 dividend. The ex-dividend date was Thursday, February 7th. This represents a $2.28 annualized dividend and a dividend yield of 0.98%. Costco Wholesale’s payout ratio is 33.38%.
In related news, VP Richard A. Galanti sold 4,188 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total value of $965,208.36. Following the completion of the transaction, the vice president now directly owns 30,082 shares in the company, valued at approximately $6,932,998.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 739 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $205.00, for a total transaction of $151,495.00. Following the sale, the director now owns 52,249 shares of the company’s stock, valued at $10,711,045. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,587 shares of company stock valued at $1,924,179. 0.21% of the stock is owned by company insiders.
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Costco Wholesale Company 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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