Conning Inc. cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 4.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,882 shares of the retailer’s stock after selling 670 shares during the quarter. Conning Inc.’s holdings in Costco Wholesale were worth $3,026,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Parkside Investments LLC purchased a new position in Costco Wholesale in the third quarter worth $105,000. MUFG Securities EMEA plc purchased a new position in Costco Wholesale in the second quarter worth $103,000. 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. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Costco Wholesale in the second quarter worth $119,000. Finally, Legacy Advisors LLC grew its position in Costco Wholesale by 632.9% in the third quarter. Legacy Advisors LLC now owns 579 shares of the retailer’s stock worth $136,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 71.49% of the company’s stock.
Several brokerages recently issued reports on COST. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Tuesday, September 11th. BMO Capital Markets set a $260.00 target price on shares of Costco Wholesale and gave the stock a “buy” rating in a research report on Monday, September 10th. Raymond James upped their price target on shares of Costco Wholesale from $225.00 to $252.00 and gave the company an “outperform” rating in a research report on Monday, September 10th. Wells Fargo & Co lowered shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and set a $235.00 price target for the company. in a research report on Friday, September 14th. Finally, Loop Capital set a $265.00 price target on shares of Costco Wholesale and gave the company a “buy” rating in a research report on Thursday, September 6th. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Costco Wholesale presently has an average rating of “Buy” and an average target price of $237.94.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, beating the consensus estimate of $2.34 by $0.02. The firm had revenue of $44.41 billion during the quarter, compared to the consensus estimate of $44.17 billion. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 earnings per share. Sell-side analysts predict that Costco Wholesale Co. will post 7.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, November 8th. Costco Wholesale’s dividend payout ratio (DPR) is 33.38%.
In other news, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $233.14, for a total transaction of $699,420.00. Following the completion of the transaction, the director now directly owns 8,654 shares of the company’s stock, valued at $2,017,593.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Roland Michael Vachris sold 6,600 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $225.88, for a total transaction of $1,490,808.00. Following the transaction, the vice president now directly owns 17,282 shares of the company’s stock, valued at $3,903,658.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,649 shares of company stock valued at $9,228,064. Insiders own 0.58% of the company’s stock.
About Costco Wholesale
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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