Mediolanum International Funds Ltd Buys New Shares in Costco Wholesale Co. (NASDAQ:COST)

Mediolanum International Funds Ltd bought a new stake in Costco Wholesale Co. (NASDAQ:COSTFree Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 25,725 shares of the retailer’s stock, valued at approximately $18,833,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CM Wealth Advisors LLC purchased a new stake in Costco Wholesale during the 3rd quarter worth about $296,000. Spartan Planning & Wealth Management purchased a new stake in Costco Wholesale during the 3rd quarter worth about $84,000. Diversified Trust Co lifted its holdings in Costco Wholesale by 4.6% during the 3rd quarter. Diversified Trust Co now owns 5,313 shares of the retailer’s stock worth $3,002,000 after buying an additional 236 shares during the last quarter. Tompkins Financial Corp lifted its holdings in Costco Wholesale by 0.5% during the 3rd quarter. Tompkins Financial Corp now owns 14,085 shares of the retailer’s stock worth $7,957,000 after buying an additional 69 shares during the last quarter. Finally, Carlson Capital Management lifted its holdings in Costco Wholesale by 7.3% during the 3rd quarter. Carlson Capital Management now owns 2,016 shares of the retailer’s stock worth $1,139,000 after buying an additional 138 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays lifted their price target on Costco Wholesale from $700.00 to $765.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $875.00 price target (up from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Stifel Nicolaus lifted their target price on Costco Wholesale from $850.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Loop Capital lifted their target price on Costco Wholesale from $890.00 to $940.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $900.00 target price on shares of Costco Wholesale in a research report on Monday. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $766.73.

View Our Latest Stock Report on COST

Costco Wholesale Price Performance

Shares of NASDAQ:COST traded down $2.54 during trading on Wednesday, hitting $884.31. 1,740,527 shares of the stock were exchanged, compared to its average volume of 1,954,451. The company has a fifty day moving average price of $822.38 and a two-hundred day moving average price of $750.76. The company has a market cap of $392.04 billion, a PE ratio of 54.68, a P/E/G ratio of 5.82 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a 12-month low of $526.15 and a 12-month high of $896.67.

Costco Wholesale (NASDAQ:COSTGet Free Report) last posted its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The firm had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. During the same quarter in the prior year, the company earned $3.43 EPS. Costco Wholesale’s revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 26th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. Costco Wholesale’s payout ratio is currently 28.75%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

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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