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Redwood Investments LLC Has $8.44 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Redwood Investments LLC boosted its stake in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 9.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,609 shares of the retailer’s stock after purchasing an additional 1,523 shares during the quarter. Redwood Investments LLC’s holdings in Costco Wholesale were worth $8,440,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Fortune 45 LLC increased its position in Costco Wholesale by 8.6% in the 1st quarter. Fortune 45 LLC now owns 696 shares of the retailer’s stock valued at $401,000 after acquiring an additional 55 shares during the period. Mather Group LLC. increased its position in Costco Wholesale by 15.2% in the 1st quarter. Mather Group LLC. now owns 2,316 shares of the retailer’s stock valued at $1,334,000 after acquiring an additional 306 shares during the period. Allied Investment Advisors LLC increased its position in Costco Wholesale by 8.2% in the 2nd quarter. Allied Investment Advisors LLC now owns 525 shares of the retailer’s stock valued at $252,000 after acquiring an additional 40 shares during the period. HB Wealth Management LLC increased its position in Costco Wholesale by 23.9% in the 2nd quarter. HB Wealth Management LLC now owns 7,792 shares of the retailer’s stock valued at $3,735,000 after acquiring an additional 1,501 shares during the period. Finally, Park National Corp OH increased its position in Costco Wholesale by 1.6% in the 2nd quarter. Park National Corp OH now owns 30,301 shares of the retailer’s stock valued at $14,522,000 after acquiring an additional 463 shares during the period. Institutional investors and hedge funds own 66.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. MKM Partners decreased their price target on shares of Costco Wholesale from $517.00 to $512.00 in a research report on Friday. Robert W. Baird reiterated an “outperform” rating and set a $575.00 price objective on shares of Costco Wholesale in a research report on Friday, September 2nd. Morgan Stanley decreased their price objective on shares of Costco Wholesale from $560.00 to $525.00 and set an “overweight” rating for the company in a research report on Friday. Citigroup increased their price objective on shares of Costco Wholesale from $510.00 to $545.00 in a research report on Thursday, August 4th. Finally, Oppenheimer decreased their price objective on shares of Costco Wholesale from $600.00 to $550.00 in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $571.92.

Costco Wholesale Stock Down 4.3 %

Costco Wholesale stock opened at $466.40 on Monday. The firm’s fifty day moving average price is $528.60 and its two-hundred day moving average price is $519.30. The firm has a market capitalization of $206.60 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 3.51 and a beta of 0.70. The company has a current ratio of 1.02, a quick ratio of 0.46 and a debt-to-equity ratio of 0.31. Costco Wholesale Co. has a 1-year low of $406.51 and a 1-year high of $612.27.

Costco Wholesale (NASDAQ:COSTGet Rating) last announced its earnings results on Thursday, September 22nd. The retailer reported $4.20 EPS for the quarter, beating the consensus estimate of $4.17 by $0.03. The company had revenue of $72.09 billion during the quarter, compared to the consensus estimate of $72 billion. Costco Wholesale had a net margin of 2.58% and a return on equity of 29.44%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.90 earnings per share. On average, equities research analysts predict that Costco Wholesale Co. will post 14.37 earnings per share for the current fiscal year.

Costco Wholesale Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.08%. Costco Wholesale’s dividend payout ratio is currently 27.40%.

Insider Activity

In other news, CFO Richard A. Galanti sold 1,000 shares of the stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $505.60, for a total value of $505,600.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares in the company, valued at $13,019,200. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Kenneth D. Denman sold 300 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $521.68, for a total transaction of $156,504.00. Following the completion of the sale, the director now owns 5,197 shares in the company, valued at $2,711,170.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard A. Galanti sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $505.60, for a total transaction of $505,600.00. Following the sale, the chief financial officer now owns 25,750 shares of the company’s stock, valued at approximately $13,019,200. The disclosure for this sale can be found here. Insiders sold a total of 2,800 shares of company stock worth $1,449,904 over the last quarter. Insiders own 0.22% of the company’s stock.

Costco Wholesale Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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