Hudson Valley Investment Advisors Inc. ADV boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 86.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,583 shares of the retailer’s stock after acquiring an additional 1,197 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Costco Wholesale were worth $683,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new position in Costco Wholesale in the 4th quarter valued at about $868,633,000. Thoroughbred Financial Services LLC lifted its holdings in shares of Costco Wholesale by 31,276.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 843,708 shares of the retailer’s stock worth $84,371,000 after acquiring an additional 841,019 shares during the period. Ellis Investment Partners LLC lifted its holdings in shares of Costco Wholesale by 24,131.7% during the 1st quarter. Ellis Investment Partners LLC now owns 610,154 shares of the retailer’s stock worth $610,000 after acquiring an additional 607,636 shares during the period. FMR LLC lifted its holdings in shares of Costco Wholesale by 5.0% during the 1st quarter. FMR LLC now owns 10,924,782 shares of the retailer’s stock worth $2,645,326,000 after acquiring an additional 518,843 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Costco Wholesale by 120.7% during the 4th quarter. Two Sigma Advisers LP now owns 754,195 shares of the retailer’s stock worth $153,637,000 after acquiring an additional 412,400 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Susan L. Decker sold 1,646 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $268.25, for a total transaction of $441,539.50. Following the completion of the transaction, the director now directly owns 41,803 shares in the company, valued at approximately $11,213,654.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard A. Galanti sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.39, for a total value of $799,170.00. Following the transaction, the chief financial officer now owns 27,582 shares of the company’s stock, valued at $7,347,568.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,136 shares of company stock worth $7,380,374. Insiders own 0.21% of the company’s stock.
Shares of COST opened at $271.52 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $284.31. The firm has a 50 day moving average price of $274.20 and a 200-day moving average price of $247.42. The firm has a market cap of $121.50 billion, a price-to-earnings ratio of 39.75, a PEG ratio of 3.87 and a beta of 0.95.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.83 by $0.06. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The company had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. During the same period in the previous year, the firm earned $1.70 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts predict that Costco Wholesale Co. will post 8.04 earnings per share for the current year.
Costco Wholesale announced that its board has authorized a stock repurchase program on Friday, April 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the retailer to purchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 29th. Costco Wholesale’s payout ratio is currently 38.07%.
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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