Brasada Capital Management LP Raises Stake in Costco Wholesale Co. (COST)
Brasada Capital Management LP lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 20.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,288 shares of the retailer’s stock after purchasing an additional 2,055 shares during the quarter. Brasada Capital Management LP’s holdings in Costco Wholesale were worth $2,886,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. MUFG Securities EMEA plc purchased a new position in Costco Wholesale in the second quarter worth about $103,000. Parkside Investments LLC purchased a new position in Costco Wholesale in the third quarter worth about $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Costco Wholesale in the second quarter worth about $119,000. Lee Financial Co grew its position in Costco Wholesale by 63.7% in the third quarter. Lee Financial Co now owns 555 shares of the retailer’s stock worth $130,000 after acquiring an additional 216 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in Costco Wholesale by 180.0% in the third quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock worth $132,000 after acquiring an additional 360 shares in the last quarter. 71.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ COST opened at $231.02 on Monday. The company has a quick ratio of 0.46, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $101.23 billion, a P/E ratio of 33.82, a PEG ratio of 2.96 and a beta of 0.91. Costco Wholesale Co. has a 52-week low of $170.65 and a 52-week high of $245.16.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be issued a $0.57 dividend. The ex-dividend date is Thursday, November 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.99%. Costco Wholesale’s payout ratio is 33.38%.
Several research analysts recently commented on COST shares. Oppenheimer lifted their price target on Costco Wholesale from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 21st. Wells Fargo & Co lowered Costco Wholesale from an “outperform” rating to a “market perform” rating and set a $235.00 target price for the company. in a research report on Friday, September 14th. Loop Capital set a $265.00 target price on Costco Wholesale and gave the company a “buy” rating in a research report on Thursday, September 6th. Royal Bank of Canada dropped their target price on Costco Wholesale from $255.00 to $253.00 and set an “outperform” rating for the company in a research report on Friday, October 5th. Finally, JPMorgan Chase & Co. boosted their target price on Costco Wholesale from $227.00 to $255.00 and gave the company an “overweight” rating in a research report on Monday, September 17th. Nine investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $237.94.
In related news, VP Franz E. Lazarus sold 23,000 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $226.76, for a total value of $5,215,480.00. Following the completion of the sale, the vice president now owns 6,830 shares in the company, valued at $1,548,770.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider W Craig Jelinek sold 22,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $223.52, for a total value of $5,029,200.00. Following the completion of the sale, the insider now owns 322,958 shares of the company’s stock, valued at approximately $72,187,572.16. The disclosure for this sale can be found here. Insiders sold 64,312 shares of company stock valued at $14,547,272 in the last quarter. 0.74% of the stock is owned by company insiders.
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Costco Wholesale Company Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
Further Reading: Understanding Compound Annual Growth Rate (CAGR)
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