Magnolia Wealth Management LLC acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST – Get Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,505 shares of the retailer’s stock, valued at approximately $4,035,000. Costco Wholesale makes up about 0.3% of Magnolia Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position.
A number of other hedge funds have also recently bought and sold shares of COST. Vanguard Group Inc. raised its holdings in Costco Wholesale by 1.2% in the first quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock valued at $21,898,934,000 after acquiring an additional 467,631 shares in the last quarter. BlackRock Inc. raised its stake in shares of Costco Wholesale by 0.8% in the 1st quarter. BlackRock Inc. now owns 31,340,294 shares of the retailer’s stock valued at $18,047,310,000 after purchasing an additional 261,972 shares in the last quarter. State Street Corp lifted its position in shares of Costco Wholesale by 4.0% during the first quarter. State Street Corp now owns 19,039,672 shares of the retailer’s stock worth $10,963,995,000 after purchasing an additional 738,447 shares during the last quarter. Geode Capital Management LLC grew its stake in Costco Wholesale by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 7,372,449 shares of the retailer’s stock worth $4,173,133,000 after purchasing an additional 246,857 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Costco Wholesale by 2.7% in the fourth quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock valued at $2,898,794,000 after buying an additional 133,943 shares during the last quarter. Institutional investors and hedge funds own 66.83% of the company’s stock.
Analysts Set New Price Targets
COST has been the topic of a number of research analyst reports. Robert W. Baird reaffirmed an “outperform” rating and set a $575.00 target price on shares of Costco Wholesale in a report on Friday, September 2nd. Loop Capital reduced their price objective on Costco Wholesale from $610.00 to $585.00 in a research note on Thursday, September 1st. Deutsche Bank Aktiengesellschaft upgraded Costco Wholesale from a “hold” rating to a “buy” rating and raised their price objective for the stock from $525.00 to $579.00 in a research note on Thursday, July 14th. Jefferies Financial Group restated a “buy” rating and issued a $580.00 price target on shares of Costco Wholesale in a research report on Friday, July 29th. Finally, Citigroup raised their price target on shares of Costco Wholesale from $510.00 to $545.00 in a research report on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $575.28.
Insider Buying and Selling
In related news, VP James P. Murphy sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total value of $787,800.00. Following the sale, the vice president now directly owns 36,230 shares in the company, valued at approximately $19,027,996. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 300 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $521.68, for a total transaction of $156,504.00. Following the sale, the director now directly owns 5,197 shares of the company’s stock, valued at approximately $2,711,170.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James P. Murphy sold 1,500 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the sale, the vice president now directly owns 36,230 shares in the company, valued at $19,027,996. The disclosure for this sale can be found here. Insiders have sold 5,300 shares of company stock worth $2,609,904 in the last ninety days. 0.22% of the stock is currently owned by corporate insiders.
Costco Wholesale Stock Down 5.4 %
COST opened at $510.30 on Wednesday. Costco Wholesale Co. has a one year low of $406.51 and a one year high of $612.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. The stock’s fifty day moving average is $529.35 and its 200-day moving average is $521.07. The company has a market capitalization of $226.04 billion, a PE ratio of 40.18, a P/E/G ratio of 4.05 and a beta of 0.70.
Costco Wholesale Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.07%. The ex-dividend date of this dividend was Thursday, July 28th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.35%.
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, 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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