Motco lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,413 shares of the retailer’s stock after selling 645 shares during the period. Motco’s holdings in Costco Wholesale were worth $7,602,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. FMR LLC grew its holdings in Costco Wholesale by 4.8% in the second quarter. FMR LLC now owns 12,077,579 shares of the retailer’s stock valued at $3,662,043,000 after purchasing an additional 551,799 shares during the last quarter. Morgan Stanley grew its holdings in Costco Wholesale by 3.5% in the first quarter. Morgan Stanley now owns 3,366,481 shares of the retailer’s stock valued at $959,885,000 after purchasing an additional 115,213 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Costco Wholesale by 6.7% in the second quarter. Fisher Asset Management LLC now owns 3,282,895 shares of the retailer’s stock valued at $995,407,000 after purchasing an additional 206,856 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Costco Wholesale by 0.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,086,280 shares of the retailer’s stock valued at $632,582,000 after purchasing an additional 11,195 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Costco Wholesale by 1.7% in the second quarter. Swiss National Bank now owns 1,804,518 shares of the retailer’s stock valued at $547,148,000 after purchasing an additional 29,300 shares during the last quarter. 63.40% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on COST. BMO Capital Markets upped their target price on Costco Wholesale from $340.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, September 25th. Telsey Advisory Group reissued an “outperform” rating and issued a $390.00 target price on shares of Costco Wholesale in a report on Tuesday, November 17th. CSFB increased their price objective on Costco Wholesale from $328.00 to $370.00 and gave the company a “neutral” rating in a research note on Tuesday, October 6th. BidaskClub raised Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Thursday, October 29th. Finally, Jefferies Financial Group raised Costco Wholesale from a “hold” rating to a “buy” rating and increased their price objective for the company from $321.00 to $435.00 in a research note on Thursday, October 15th. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $376.33.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 24th. The retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $52.03 billion. Costco Wholesale had a return on equity of 22.71% and a net margin of 2.40%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $2.69 EPS. Research analysts anticipate that Costco Wholesale Co. will post 9.69 EPS for the current year.
The company also recently disclosed a special dividend, which will be paid on Friday, December 11th. Stockholders of record on Wednesday, December 2nd will be issued a $10.00 dividend. This is an increase from Costco Wholesale’s previous special dividend of $7.00. The ex-dividend date of this dividend is Tuesday, December 1st. Costco Wholesale’s dividend payout ratio (DPR) is 31.64%.
In related news, Director Kenneth D. Denman sold 300 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $355.69, for a total transaction of $106,707.00. Following the sale, the director now directly owns 4,433 shares in the company, valued at approximately $1,576,773.77. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Joseph P. Portera sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $348.00, for a total value of $2,088,000.00. Following the sale, the vice president now owns 6,211 shares in the company, valued at $2,161,428. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,800 shares of company stock worth $3,064,457. Company insiders own 0.22% of the company’s stock.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
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