BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 14,994 Shares of Costco Wholesale Corporation $COST

by · The Markets Daily

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 17.7% in the second quarter, Holdings Channel reports. The institutional investor owned 69,901 shares of the retailer’s stock after selling 14,994 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Costco Wholesale were worth $69,198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bulwark Capital Corp bought a new stake in Costco Wholesale during the 2nd quarter worth approximately $25,000. LFA Lugano Financial Advisors SA bought a new position in shares of Costco Wholesale in the second quarter valued at approximately $31,000. Anderson Financial Strategies LLC boosted its position in shares of Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after buying an additional 36 shares during the last quarter. Financial Connections Group Inc. grew its holdings in Costco Wholesale by 975.0% during the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after buying an additional 39 shares in the last quarter. Finally, Frazier Financial Advisors LLC raised its position in Costco Wholesale by 72.0% in the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock valued at $43,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Down 0.0%

Costco Wholesale stock opened at $884.47 on Friday. The firm has a 50 day moving average price of $916.22 and a 200-day moving average price of $951.10. 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 twelve month low of $867.12 and a twelve month high of $1,078.23. The company has a market capitalization of $392.67 billion, a P/E ratio of 47.37, a P/E/G ratio of 6.00 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST – Get Free Report) last posted its quarterly earnings data on Thursday, December 11th. The retailer reported $4.34 EPS for the quarter, beating the consensus estimate of $4.27 by $0.07. Costco Wholesale had a return on equity of 30.16% and a net margin of 2.96%.The business had revenue of $67.31 billion for the quarter, compared to the consensus estimate of $67.03 billion. During the same quarter in the prior year, the business earned $4.04 earnings per share. Costco Wholesale’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction dated 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 owned 9,740 shares in the company, valued at $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claudine Adamo sold 2,700 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 6,851 shares in the company, valued at $6,410,343.68. The trade was a 28.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 9,720 shares of company stock worth $9,010,257. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Daiwa Capital Markets cut their price objective on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Cowen reissued a “buy” rating on shares of Costco Wholesale in a research report on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of Costco Wholesale in a report on Monday. Hovde Group began coverage on shares of Costco Wholesale in a research note on Tuesday, November 18th. They issued a “market perform” rating and a $16.00 price objective for the company. Finally, Oppenheimer dropped their target price on shares of Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Eighteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $998.70.

Get Our Latest Report on COST

About Costco Wholesale

(Free Report)

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.

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