Allstate Corp lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 3,148.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,155 shares of the retailer's stock after buying an additional 12,750 shares during the period. Allstate Corp's holdings in Costco Wholesale were worth $12,054,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Costco Wholesale by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer's stock worth $38,668,069,000 after buying an additional 455,043 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Costco Wholesale by 1.7% in the third quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer's stock worth $8,380,648,000 after acquiring an additional 162,191 shares during the period. Norges Bank purchased a new position in shares of Costco Wholesale during the fourth quarter worth $5,182,316,000. Fisher Asset Management LLC lifted its position in Costco Wholesale by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 3,077,905 shares of the retailer's stock valued at $2,820,193,000 after purchasing an additional 43,414 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Costco Wholesale by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,899,904 shares of the retailer's stock valued at $2,657,095,000 after purchasing an additional 91,649 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.
Costco Wholesale Price Performance
NASDAQ COST traded up $15.87 during trading hours on Monday, hitting $945.53. 1,545,607 shares of the company's stock traded hands, compared to its average volume of 1,939,874. The company has a market capitalization of $419.51 billion, a PE ratio of 55.52, a PEG ratio of 6.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,078.24. The firm's 50-day moving average is $988.07 and its 200-day moving average is $946.86.
Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.09 by ($0.07). Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The company had revenue of $63.72 billion during the quarter, compared to analysts' expectations of $63.02 billion. Equities analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.
Costco Wholesale Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale's dividend payout ratio (DPR) is presently 27.09%.
Analysts Set New Price Targets
COST has been the subject of a number of recent research reports. Robert W. Baird lifted their price objective on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Truist Financial lifted their price target on Costco Wholesale from $935.00 to $995.00 and gave the company a "hold" rating in a research report on Friday, March 7th. Raymond James upped their price objective on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an "overweight" rating in a research report on Thursday, December 12th. UBS Group lifted their target price on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, BMO Capital Markets boosted their target price on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,029.00.
Read Our Latest Analysis on Costco Wholesale
Insider Transactions at Costco Wholesale
In related news, EVP Gary Millerchip sold 1,100 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the completion of the sale, the executive vice president now directly owns 11,165 shares in the company, valued at approximately $10,495,211.65. This trade represents a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Roland Michael Vachris sold 3,600 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the completion of the transaction, the chief executive officer now owns 41,077 shares in the company, valued at $38,242,687. The trade was a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock worth $5,215,915 in the last quarter. Company insiders own 0.18% of the company's stock.
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.
Further Reading
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