Accuvest Global Advisors lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 16.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,401 shares of the retailer’s stock after selling 650 shares during the period. Accuvest Global Advisors’ holdings in Costco Wholesale were worth $799,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Costco Wholesale by 13.5% in the second quarter. FMR LLC now owns 10,570,895 shares of the retailer’s stock valued at $2,209,107,000 after purchasing an additional 1,256,873 shares during the period. BlackRock Inc. boosted its stake in shares of Costco Wholesale by 3.3% in the second quarter. BlackRock Inc. now owns 27,121,793 shares of the retailer’s stock valued at $5,667,910,000 after purchasing an additional 858,755 shares during the period. Marshall Wace LLP boosted its stake in shares of Costco Wholesale by 1,582.4% in the second quarter. Marshall Wace LLP now owns 250,388 shares of the retailer’s stock valued at $52,326,000 after purchasing an additional 235,505 shares during the period. Cornerstone Wealth Management LLC purchased a new position in shares of Costco Wholesale in the second quarter valued at $1,018,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Costco Wholesale by 70.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 506,193 shares of the retailer’s stock valued at $105,784,000 after purchasing an additional 208,764 shares during the period. 71.49% of the stock is owned by institutional investors.
NASDAQ COST opened at $230.16 on Friday. Costco Wholesale Co. has a 12 month low of $163.78 and a 12 month high of $245.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.46 and a current ratio of 1.02. The firm has a market cap of $100.86 billion, a price-to-earnings ratio of 33.70, a P/E/G ratio of 2.94 and a beta of 0.91.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, beating the Zacks’ consensus estimate of $2.34 by $0.02. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The firm had revenue of $44.41 billion for the quarter, compared to the consensus estimate of $44.17 billion. During the same period in the prior year, the firm posted $2.08 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, research analysts expect that Costco Wholesale Co. will post 7.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given 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 currently 33.38%.
In other news, insider W Craig Jelinek sold 22,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 322,958 shares in the company, valued at approximately $72,187,572.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Roland Michael Vachris sold 6,600 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $225.88, for a total transaction of $1,490,808.00. Following the completion of the transaction, the vice president now owns 17,282 shares in the company, valued at $3,903,658.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,312 shares of company stock worth $14,547,272. Insiders own 0.74% of the company’s stock.
Several brokerages have recently weighed in on COST. BidaskClub upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 23rd. Wells Fargo & Co upped their target price on shares of Costco Wholesale from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, July 12th. Cowen restated a “buy” rating and issued a $240.00 target price on shares of Costco Wholesale in a research note on Friday, August 10th. Telsey Advisory Group upped their target price on shares of Costco Wholesale from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, August 7th. Finally, Loop Capital upped their target price on shares of Costco Wholesale to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Costco Wholesale has an average rating of “Buy” and a consensus target price of $237.94.
Costco Wholesale 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.
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