Hexavest Inc. reduced its stake in shares of Costco Wholesale Corp. (NASDAQ:COST) by 13.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 360,786 shares of the retailer’s stock after selling 54,276 shares during the period. Costco Wholesale Corp. comprises 0.9% of Hexavest Inc.’s holdings, making the stock its 29th largest position. Hexavest Inc. owned approximately 0.08% of Costco Wholesale Corp. worth $55,023,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Nexus Investment Management Inc. boosted its stake in Costco Wholesale Corp. by 18.1% in the second quarter. Nexus Investment Management Inc. now owns 2,605 shares of the retailer’s stock valued at $409,000 after buying an additional 400 shares during the last quarter. Fulton Bank N.A. boosted its stake in Costco Wholesale Corp. by 0.5% in the second quarter. Fulton Bank N.A. now owns 18,329 shares of the retailer’s stock valued at $2,878,000 after buying an additional 88 shares during the last quarter. Kistler Tiffany Companies LLC boosted its stake in Costco Wholesale Corp. by 4.6% in the second quarter. Kistler Tiffany Companies LLC now owns 2,469 shares of the retailer’s stock valued at $388,000 after buying an additional 109 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in Costco Wholesale Corp. by 5.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,963 shares of the retailer’s stock valued at $308,000 after buying an additional 101 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its stake in Costco Wholesale Corp. by 106.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 14,000 shares of the retailer’s stock valued at $2,199,000 after buying an additional 7,223 shares during the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

Institutional Ownership by Quarter for Costco Wholesale Corp. (NASDAQ:COST)

Costco Wholesale Corp. (NASDAQ:COST) opened at 151.655 on Tuesday. The stock has a market capitalization of $66.29 billion, a price-to-earnings ratio of 28.453 and a beta of 0.85. The company has a 50-day moving average of $149.39 and a 200-day moving average of $155.57. Costco Wholesale Corp. has a 1-year low of $138.57 and a 1-year high of $169.73.

Costco Wholesale Corp. (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 29th. The retailer reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.04. The business had revenue of $35.73 billion for the quarter. Costco Wholesale Corp. had a net margin of 1.98% and a return on equity of 20.26%. Costco Wholesale Corp.’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 EPS. Analysts anticipate that Costco Wholesale Corp. will post $5.93 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Friday, November 4th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, November 2nd. Costco Wholesale Corp.’s dividend payout ratio (DPR) is presently 33.71%.

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Several research firms have weighed in on COST. Citigroup Inc. upped their target price on Costco Wholesale Corp. from $155.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 16th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $179.00 price target on shares of Costco Wholesale Corp. in a research note on Friday, August 5th. Nomura reiterated a “buy” rating and issued a $185.00 price target on shares of Costco Wholesale Corp. in a research note on Thursday, August 25th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $171.00 price target on shares of Costco Wholesale Corp. in a research note on Tuesday, August 2nd. Finally, Cowen and Company increased their price target on Costco Wholesale Corp. from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. One equities 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 given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $172.11.

In other news, VP Richard A. Galanti sold 1,930 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $143.53, for a total value of $277,012.90. Following the transaction, the vice president now owns 36,650 shares in the company, valued at $5,260,374.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Timothy L. Rose sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $151.12, for a total transaction of $604,480.00. Following the completion of the transaction, the vice president now owns 51,045 shares in the company, valued at approximately $7,713,920.40. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by company insiders.

About Costco Wholesale Corp.

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.

5 Day Chart for NASDAQ:COST

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