Waratah Capital Advisors Ltd. Reduces Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Waratah Capital Advisors Ltd. trimmed its position in Costco Wholesale Co. (NASDAQ:COST) by 62.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,520 shares of the retailer’s stock after selling 43,371 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Costco Wholesale were worth $7,641,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Krane Funds Advisors LLC acquired a new stake in shares of Costco Wholesale during the second quarter worth $26,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Costco Wholesale during the second quarter worth approximately $27,000. Horan Capital Advisors LLC. bought a new stake in shares of Costco Wholesale during the third quarter valued at approximately $31,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of Costco Wholesale by 164.3% during the third quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 111 shares of the retailer’s stock valued at $32,000 after purchasing an additional 69 shares during the last quarter. Finally, Enterprise Trust & Investment Co increased its holdings in shares of Costco Wholesale by 171.7% in the third quarter. Enterprise Trust & Investment Co now owns 125 shares of the retailer’s stock valued at $36,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

A number of equities analysts have issued reports on COST shares. Deutsche Bank raised their target price on Costco Wholesale from $272.00 to $274.00 and gave the stock a “hold” rating in a report on Tuesday, October 1st. Northcoast Research downgraded Costco Wholesale from a “buy” rating to a “neutral” rating in a report on Wednesday, October 16th. Morgan Stanley increased their price target on shares of Costco Wholesale from $230.00 to $265.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. They noted that the move was a valuation call. BMO Capital Markets raised their price target on shares of Costco Wholesale from $275.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Sanford C. Bernstein lowered Costco Wholesale from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $220.00 to $230.00 in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $295.04.

COST traded down $2.38 during trading on Tuesday, hitting $295.01. The company’s stock had a trading volume of 466,524 shares, compared to its average volume of 1,608,069. The company has a current ratio of 1.01, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. Costco Wholesale Co. has a twelve month low of $189.51 and a twelve month high of $307.34. The business’s fifty day simple moving average is $299.93 and its 200 day simple moving average is $280.34. The firm has a market capitalization of $131.81 billion, a price-to-earnings ratio of 36.02, a P/E/G ratio of 4.12 and a beta of 0.91.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, October 3rd. The retailer reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.15. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The company had revenue of $47.50 billion during the quarter, compared to analysts’ expectations of $47.71 billion. During the same period last year, the firm earned $2.36 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts forecast that Costco Wholesale Co. will post 8.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Thursday, October 31st. Costco Wholesale’s dividend payout ratio is currently 31.75%.

In other Costco Wholesale news, Director Susan L. Decker sold 333 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $297.50, for a total value of $99,067.50. Following the transaction, the director now directly owns 41,470 shares of the company’s stock, valued at $12,337,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul G. Moulton sold 5,976 shares of Costco Wholesale stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $298.06, for a total transaction of $1,781,206.56. Following the transaction, the vice president now owns 36,010 shares of the company’s stock, valued at $10,733,140.60. The disclosure for this sale can be found here. In the last three months, insiders sold 36,780 shares of company stock valued at $11,032,292. 0.21% of the stock is currently owned by insiders.

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.

Read More: What does an outperform rating mean?

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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