Capstone Asset Management Co. Reduces Stake in Costco Wholesale Corp. (COST)
Capstone Asset Management Co. cut its position in Costco Wholesale Corp. (NASDAQ:COST) by 0.0% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 57,400 shares of the retailer’s stock after selling 16 shares during the period. Capstone Asset Management Co.’s holdings in Costco Wholesale Corp. were worth $8,754,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. FCM Investments TX acquired a new position in shares of Costco Wholesale Corp. during the second quarter worth about $133,000. Global X Management Co. LLC boosted its position in shares of Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock worth $154,000 after buying an additional 722 shares in the last quarter. PineBridge Investments L.P. boosted its position in shares of Costco Wholesale Corp. by 11.5% in the second quarter. PineBridge Investments L.P. now owns 1,078 shares of the retailer’s stock worth $169,000 after buying an additional 111 shares in the last quarter. Signaturefd LLC boosted its position in shares of Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock worth $172,000 after buying an additional 491 shares in the last quarter. Finally, Suncoast Equity Management acquired a new position in shares of Costco Wholesale Corp. during the second quarter worth about $204,000. Institutional investors and hedge funds own 71.95% of the company’s stock.
Shares of Costco Wholesale Corp. (NASDAQ:COST) traded down 0.69% on Wednesday, reaching $150.43. 957,368 shares of the company’s stock traded hands. The firm has a market cap of $65.76 billion, a P/E ratio of 28.22 and a beta of 0.85. The stock has a 50-day moving average of $149.38 and a 200 day moving average of $155.57. Costco Wholesale Corp. has a 12-month low of $138.57 and a 12-month high of $169.73.
Costco Wholesale Corp. (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 29th. The retailer reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.04. Costco Wholesale Corp. had a net margin of 1.98% and a return on equity of 20.26%. The company had revenue of $35.73 billion for the quarter. During the same quarter in the prior year, the firm posted $1.73 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts expect that Costco Wholesale Corp. will post $5.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Friday, November 4th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, November 2nd. Costco Wholesale Corp.’s dividend payout ratio is presently 33.71%.
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Several research firms recently weighed in on COST. JPMorgan Chase & Co. restated a “buy” rating and set a $179.00 price target on shares of Costco Wholesale Corp. in a report on Friday, August 5th. Nomura restated a “buy” rating and set a $185.00 price target on shares of Costco Wholesale Corp. in a report on Thursday, August 25th. Vetr upgraded shares of Costco Wholesale Corp. from a “hold” rating to a “buy” rating in a report on Thursday, September 1st. Zacks Investment Research upgraded shares of Costco Wholesale Corp. from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Tuesday, August 30th. Finally, Robert W. Baird set a $175.00 price target on shares of Costco Wholesale Corp. and gave the stock a “buy” rating in a report on Friday, September 23rd. 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’s stock. Costco Wholesale Corp. presently has an average rating of “Buy” and an average target price of $172.11.
In other Costco Wholesale Corp. news, insider David S. Petterson sold 3,000 shares of Costco Wholesale Corp. stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $151.10, for a total transaction of $453,300.00. Following the completion of the transaction, the insider now directly owns 25,626 shares of the company’s stock, valued at $3,872,088.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James D. Sinegal sold 20,114 shares of Costco Wholesale Corp. stock in a transaction on Friday, October 7th. The stock was sold at an average price of $149.02, for a total transaction of $2,997,388.28. Following the transaction, the director now directly owns 768,136 shares of the company’s stock, valued at $114,467,626.72. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate 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.
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