Costco Wholesale Corporation $COST Stake Lowered by Riverpark Capital Management LLC

Riverpark Capital Management LLC trimmed its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,468 shares of the retailer’s stock after selling 106 shares during the period. Costco Wholesale comprises approximately 2.4% of Riverpark Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Riverpark Capital Management LLC’s holdings in Costco Wholesale were worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Choreo LLC increased its position in Costco Wholesale by 2.2% in the 2nd quarter. Choreo LLC now owns 21,173 shares of the retailer’s stock worth $20,958,000 after purchasing an additional 454 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Costco Wholesale by 7.3% in the second quarter. Russell Investments Group Ltd. now owns 382,316 shares of the retailer’s stock worth $378,424,000 after buying an additional 26,164 shares during the last quarter. Country Trust Bank raised its position in Costco Wholesale by 230.2% during the second quarter. Country Trust Bank now owns 284 shares of the retailer’s stock valued at $281,000 after acquiring an additional 198 shares in the last quarter. Richmond Investment Services LLC raised its position in Costco Wholesale by 56.5% during the second quarter. Richmond Investment Services LLC now owns 551 shares of the retailer’s stock valued at $545,000 after acquiring an additional 199 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in Costco Wholesale by 85.5% in the second quarter. J.W. Cole Advisors Inc. now owns 25,823 shares of the retailer’s stock valued at $25,563,000 after acquiring an additional 11,901 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

COST opened at $894.33 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average price is $925.31 and its two-hundred day moving average price is $960.83. The firm has a market capitalization of $396.35 billion, a P/E ratio of 49.11, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a 12-month low of $871.71 and a 12-month high of $1,078.23.

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

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is 28.56%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Claudine Adamo sold 2,700 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the completion of the transaction, the executive vice president owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. This represents a 28.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,720 shares of company stock worth $9,010,257 over the last 90 days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Roth Capital set a $907.00 price target on shares of Costco Wholesale and gave the stock a “neutral” rating in a research note on Friday, September 26th. Citigroup decreased their price objective on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Mizuho reduced their price target on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Daiwa Capital Markets lowered their price objective on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Finally, Evercore ISI reduced their target price on Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a report on Friday, September 26th. Eighteen equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,025.07.

Costco Wholesale 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.