Park Place Capital Corp Raises Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Park Place Capital Corp grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 86.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 938 shares of the retailer’s stock after buying an additional 435 shares during the period. Park Place Capital Corp’s holdings in Costco Wholesale were worth $832,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of COST. Logan Capital Management Inc. boosted its position in shares of Costco Wholesale by 12.1% in the 4th quarter. Logan Capital Management Inc. now owns 3,008 shares of the retailer’s stock worth $1,986,000 after buying an additional 324 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Costco Wholesale by 4.2% during the 4th quarter. Cresset Asset Management LLC now owns 53,796 shares of the retailer’s stock worth $36,159,000 after purchasing an additional 2,174 shares in the last quarter. Visionary Wealth Advisors raised its position in shares of Costco Wholesale by 1.8% during the 4th quarter. Visionary Wealth Advisors now owns 3,418 shares of the retailer’s stock worth $2,256,000 after purchasing an additional 59 shares during the last quarter. Symmetry Investments LP lifted its stake in Costco Wholesale by 74.7% in the 4th quarter. Symmetry Investments LP now owns 9,355 shares of the retailer’s stock valued at $6,175,000 after buying an additional 4,000 shares in the last quarter. Finally, MGO One Seven LLC raised its holdings in shares of Costco Wholesale by 55.8% in the fourth quarter. MGO One Seven LLC now owns 8,453 shares of the retailer’s stock worth $5,580,000 after acquiring an additional 3,026 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on COST. Bank of America increased their price objective on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research note on Thursday, October 3rd. Roth Mkm boosted their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Wells Fargo & Company upped their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Finally, Redburn Atlantic cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $860.00 to $890.00 in a research note on Tuesday, September 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $883.04.

Insider Activity

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,174 shares of company stock worth $7,097,624. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Up 1.1 %

NASDAQ COST traded up $10.00 during trading hours on Tuesday, hitting $883.59. The company had a trading volume of 609,287 shares, compared to its average volume of 1,953,798. The firm’s 50 day moving average is $876.57 and its 200 day moving average is $823.41. The company has a market capitalization of $391.73 billion, a price-to-earnings ratio of 54.90, a P/E/G ratio of 5.34 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $4.86 EPS. Sell-side analysts anticipate that Costco Wholesale Co. will post 17.73 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a dividend of $1.16 per share. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale’s payout ratio is currently 28.75%.

Costco Wholesale 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.