SFE Investment Counsel Decreases Stake in Costco Wholesale Corporation $COST

SFE Investment Counsel cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 10,653 shares of the retailer’s stock after selling 90 shares during the quarter. Costco Wholesale accounts for about 1.9% of SFE Investment Counsel’s investment portfolio, making the stock its 14th biggest holding. SFE Investment Counsel’s holdings in Costco Wholesale were worth $10,546,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in COST. Merrion Investment Management Co LLC raised its stake in Costco Wholesale by 5.7% in the 2nd quarter. Merrion Investment Management Co LLC now owns 1,400 shares of the retailer’s stock worth $1,386,000 after acquiring an additional 75 shares during the last quarter. Zions Bancorporation National Association UT grew its stake in Costco Wholesale by 2.2% during the 2nd quarter. Zions Bancorporation National Association UT now owns 1,778 shares of the retailer’s stock valued at $1,760,000 after purchasing an additional 38 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Costco Wholesale by 1.7% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 5,463 shares of the retailer’s stock valued at $5,408,000 after purchasing an additional 91 shares during the period. Midwest Trust Co purchased a new position in shares of Costco Wholesale in the second quarter worth about $74,714,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of Costco Wholesale during the second quarter worth about $31,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 0.1%

Shares of NASDAQ COST opened at $922.74 on Friday. The firm has a market cap of $408.94 billion, a price-to-earnings ratio of 50.67, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98. The company’s 50-day simple moving average is $938.12 and its 200-day simple moving average is $968.70. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 52-week low of $871.71 and a 52-week high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The firm had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. During the same quarter in the prior year, the firm earned $5.15 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is 28.56%.

Wall Street Analysts Forecast Growth

COST has been the topic of several research reports. Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Oppenheimer dropped their price objective on shares of Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Jefferies Financial Group reiterated a “buy” rating on shares of Costco Wholesale in a research note on Thursday, October 9th. Mizuho decreased their target price on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Finally, Argus upped their price target on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, September 29th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,063.88.

Insider Transactions at Costco Wholesale

In related news, EVP Claudine Adamo sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the completion of the sale, the executive vice president directly owned 6,851 shares in the company, valued at approximately $6,410,343.68. The trade was a 28.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the transaction, the executive vice president directly owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. This represents a 25.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 7,920 shares of company stock valued at $7,373,175. Insiders own 0.18% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.