PacWest Financial Management Inc decreased its stake in shares of Costco Wholesale Corp. (NASDAQ:COST) by 1.7% during the third quarter, Holdings Channel reports. The fund owned 11,975 shares of the retailer’s stock after selling 210 shares during the period. PacWest Financial Management Inc’s holdings in Costco Wholesale Corp. were worth $1,826,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. FCM Investments TX purchased a new position in Costco Wholesale Corp. during the second quarter valued at approximately $133,000. Global X Management Co. LLC boosted its position in Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock valued at $154,000 after buying an additional 722 shares during the period. PineBridge Investments L.P. boosted its position in Costco Wholesale Corp. by 11.5% in the second quarter. PineBridge Investments L.P. now owns 1,078 shares of the retailer’s stock valued at $169,000 after buying an additional 111 shares during the period. Signaturefd LLC boosted its position in Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock valued at $172,000 after buying an additional 491 shares during the period. Finally, Suncoast Equity Management purchased a new position in Costco Wholesale Corp. during the second quarter valued at approximately $204,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.
Costco Wholesale Corp. (NASDAQ:COST) traded up 0.18% during mid-day trading on Friday, hitting $151.88. The company’s stock had a trading volume of 886,780 shares. The firm has a market cap of $66.39 billion, a price-to-earnings ratio of 28.50 and a beta of 0.85. Costco Wholesale Corp. has a 52-week low of $138.57 and a 52-week high of $169.73. The firm has a 50 day moving average of $149.35 and a 200-day moving average of $155.43.
Costco Wholesale Corp. (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.04. The company earned $35.73 billion during the quarter. Costco Wholesale Corp. had a net margin of 1.98% and a return on equity of 20.26%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.73 earnings per share. On average, equities research analysts expect that Costco Wholesale Corp. will post $5.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Friday, November 4th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $1.80 annualized dividend and a dividend yield of 1.19%. Costco Wholesale Corp.’s dividend payout ratio is 33.71%.
Several equities analysts have commented on the company. Citigroup Inc. upped their price target on Costco Wholesale Corp. from $155.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, August 16th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $179.00 target price on shares of Costco Wholesale Corp. in a report on Friday, August 5th. Nomura reissued a “buy” rating and issued a $185.00 target price on shares of Costco Wholesale Corp. in a report on Thursday, August 25th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $171.00 target price on shares of Costco Wholesale Corp. in a report on Tuesday, August 2nd. Finally, Cowen and Company increased their target price on Costco Wholesale Corp. from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $172.11.
In related news, Director Richard M. Libenson sold 2,385 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $151.00, for a total value of $360,135.00. Following the sale, the director now owns 4,449 shares of the company’s stock, valued at $671,799. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Richard A. Galanti sold 1,930 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $143.53, for a total transaction of $277,012.90. Following the completion of the sale, the vice president now directly owns 36,650 shares in the company, valued at approximately $5,260,374.50. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate insiders.
Costco Wholesale Corp. Company Profile
Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.