Triasima Portfolio Management inc. Has $3.77 Million Stock Holdings in Costco Wholesale Corporation $COST

Triasima Portfolio Management inc. grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 12.3% during the second quarter, HoldingsChannel.com reports. The firm owned 3,805 shares of the retailer’s stock after purchasing an additional 416 shares during the period. Triasima Portfolio Management inc.’s holdings in Costco Wholesale were worth $3,767,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Costco Wholesale by 1.0% during the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock valued at $40,332,515,000 after purchasing an additional 443,101 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Costco Wholesale by 0.4% during the first quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer’s stock valued at $4,097,127,000 after purchasing an additional 18,045 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Costco Wholesale by 5.2% during the first quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer’s stock valued at $3,695,796,000 after purchasing an additional 191,985 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Costco Wholesale during the first quarter valued at about $3,461,159,000. Finally, Jennison Associates LLC raised its position in shares of Costco Wholesale by 3.9% during the first quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer’s stock worth $3,175,579,000 after acquiring an additional 125,441 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Trading Up 0.4%

NASDAQ COST opened at $914.80 on Wednesday. The company has a market cap of $405.70 billion, a price-to-earnings ratio of 50.24, a P/E/G ratio of 5.52 and a beta of 0.98. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The business has a 50 day moving average price of $952.69 and a 200-day moving average price of $971.76. 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 (NASDAQ:COST) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.06. The company had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.Costco Wholesale’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.15 earnings per share. As a group, equities analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s payout ratio is presently 28.56%.

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the transaction, the executive vice president owned 9,740 shares of the company’s stock, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock valued at $7,588,685 over the last 90 days. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COST. Truist Financial lowered their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research report on Friday, September 26th. Morgan Stanley lowered their price objective on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Erste Group Bank downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. lowered their price objective on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Finally, Evercore ISI lowered their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a research report on Friday, September 26th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,067.19.

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.