Cigna Investments Inc. New lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 30.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,280 shares of the retailer’s stock after buying an additional 3,522 shares during the period. Cigna Investments Inc. New’s holdings in Costco Wholesale were worth $4,357,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in COST. Your Advocates Ltd. LLP acquired a new position in shares of Costco Wholesale in the first quarter worth about $28,000. Sageworth Trust Co acquired a new position in shares of Costco Wholesale in the fourth quarter worth about $29,000. Tobias Financial Advisors Inc. acquired a new position in shares of Costco Wholesale in the fourth quarter worth about $29,000. Beutel Goodman & Co Ltd. acquired a new position in shares of Costco Wholesale in the fourth quarter worth about $29,000. Finally, ERTS Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 69.20% of the company’s stock.
COST stock traded up $0.46 on Friday, reaching $302.43. The company’s stock had a trading volume of 2,313,687 shares, compared to its average volume of 2,861,295. Costco Wholesale Co. has a 52 week low of $233.05 and a 52 week high of $325.26. The company has a market capitalization of $133.34 billion, a P/E ratio of 35.50, a price-to-earnings-growth ratio of 4.21 and a beta of 0.71. The firm has a fifty day moving average of $304.26 and a two-hundred day moving average of $301.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.04 and a quick ratio of 0.52.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 1st were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.93%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Thursday, April 30th. Costco Wholesale’s dividend payout ratio is 34.19%.
Several research analysts recently commented on the company. Credit Suisse Group reiterated a “hold” rating and issued a $328.00 price target on shares of Costco Wholesale in a research note on Thursday, April 9th. BidaskClub cut Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Telsey Advisory Group restated an “outperform” rating on shares of Costco Wholesale in a research note on Monday, March 2nd. Royal Bank of Canada upped their price objective on Costco Wholesale from $343.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Finally, UBS Group upped their price objective on Costco Wholesale from $335.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, March 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have given a buy rating to the stock. Costco Wholesale presently has a consensus rating of “Buy” and an average price target of $318.54.
In other Costco Wholesale news, VP James P. Murphy sold 5,000 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $310.00, for a total transaction of $1,550,000.00. Following the completion of the transaction, the vice president now directly owns 42,771 shares of the company’s stock, valued at approximately $13,259,010. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard A. Galanti sold 1,448 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $306.51, for a total value of $443,826.48. Following the transaction, the chief financial officer now directly owns 23,967 shares of the company’s stock, valued at $7,346,125.17. The disclosure for this sale can be found here. Insiders sold a total of 7,448 shares of company stock valued at $2,308,656 over the last three months. Corporate insiders own 0.22% of the company’s stock.
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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