Overbrook Management Corp Has $368,000 Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Overbrook Management Corp cut its position in Costco Wholesale Co. (NASDAQ:COST) by 67.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 502 shares of the retailer’s stock after selling 1,051 shares during the quarter. Overbrook Management Corp’s holdings in Costco Wholesale were worth $368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COST. Enterprise Financial Services Corp grew its holdings in Costco Wholesale by 1.6% in the 4th quarter. Enterprise Financial Services Corp now owns 892 shares of the retailer’s stock worth $589,000 after acquiring an additional 14 shares during the last quarter. Hoxton Planning & Management LLC lifted its stake in shares of Costco Wholesale by 0.9% in the 1st quarter. Hoxton Planning & Management LLC now owns 1,535 shares of the retailer’s stock valued at $1,125,000 after purchasing an additional 14 shares during the period. Howard Financial Services LTD. boosted its holdings in shares of Costco Wholesale by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 870 shares of the retailer’s stock valued at $574,000 after buying an additional 15 shares in the last quarter. First National Corp MA ADV boosted its stake in Costco Wholesale by 0.5% during the fourth quarter. First National Corp MA ADV now owns 3,098 shares of the retailer’s stock worth $2,045,000 after acquiring an additional 15 shares in the last quarter. Finally, Morton Capital Management LLC CA grew its holdings in Costco Wholesale by 1.0% in the fourth quarter. Morton Capital Management LLC CA now owns 1,564 shares of the retailer’s stock worth $1,032,000 after purchasing an additional 15 shares during the period. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $851.82 on Friday. Costco Wholesale Co. has a 12-month low of $524.63 and a 12-month high of $873.96. The firm has a market capitalization of $377.64 billion, a price-to-earnings ratio of 52.70, a price-to-earnings-growth ratio of 5.67 and a beta of 0.79. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $796.35 and a 200 day moving average of $736.82.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.08. The business had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.43 EPS. On average, research analysts anticipate that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were given a $1.16 dividend. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date was Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a yield of 0.54%. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COST. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price for the company. in a report on Wednesday, April 3rd. Telsey Advisory Group boosted their target price on Costco Wholesale from $850.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Sunday, June 2nd. Truist Financial lifted their price target on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Loop Capital increased their price objective on shares of Costco Wholesale from $890.00 to $940.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $756.85.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the sale, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Company Profile

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.