OFI Invest Asset Management Makes New $30.59 Million Investment in Costco Wholesale Co. (NASDAQ:COST)

OFI Invest Asset Management acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,574 shares of the retailer’s stock, valued at approximately $30,593,000.

A number of other hedge funds have also modified their holdings of COST. Cromwell Holdings LLC boosted its stake in Costco Wholesale by 0.9% during the 4th quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer’s stock worth $1,048,000 after purchasing an additional 10 shares during the period. 44 Wealth Management LLC boosted its stake in shares of Costco Wholesale by 0.3% during the fourth quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer’s stock worth $3,196,000 after buying an additional 10 shares during the period. SRN Advisors LLC grew its holdings in shares of Costco Wholesale by 0.3% during the fourth quarter. SRN Advisors LLC now owns 3,081 shares of the retailer’s stock worth $2,823,000 after buying an additional 10 shares during the last quarter. Sculati Wealth Management LLC increased its position in Costco Wholesale by 0.3% in the 3rd quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock valued at $3,235,000 after acquiring an additional 11 shares during the period. Finally, Sivia Capital Partners LLC raised its stake in Costco Wholesale by 0.3% during the 4th quarter. Sivia Capital Partners LLC now owns 3,708 shares of the retailer’s stock valued at $3,398,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 6.1 %

Shares of Costco Wholesale stock opened at $964.31 on Friday. The firm has a market cap of $428.06 billion, a PE ratio of 56.62, a P/E/G ratio of 6.15 and a beta of 0.82. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,078.24. The business’s fifty day moving average is $989.69 and its two-hundred day moving average is $943.44.

Costco Wholesale (NASDAQ:COST) last issued 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 return on equity of 32.31% and a net margin of 2.93%. The business had revenue of $63.72 billion during the quarter, compared to analyst estimates of $63.02 billion. Analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.09%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup lifted their target price on Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Jefferies Financial Group boosted their price objective on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Oppenheimer restated an “outperform” rating and issued a $1,075.00 target price (up previously from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. UBS Group increased their price target on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a report on Friday. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,029.00.

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.