Costco Wholesale Corporation $COST Stake Lessened by W.H. Cornerstone Investments Inc.

W.H. Cornerstone Investments Inc. trimmed its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 6.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,098 shares of the retailer’s stock after selling 265 shares during the quarter. Costco Wholesale makes up 2.6% of W.H. Cornerstone Investments Inc.’s investment portfolio, making the stock its 10th largest position. W.H. Cornerstone Investments Inc.’s holdings in Costco Wholesale were worth $4,057,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Thompson Davis & CO. Inc. boosted its position in shares of Costco Wholesale by 13.4% during the second quarter. Thompson Davis & CO. Inc. now owns 1,584 shares of the retailer’s stock worth $1,568,000 after buying an additional 187 shares during the period. Good Life Advisors LLC raised its holdings in Costco Wholesale by 6.0% during the second quarter. Good Life Advisors LLC now owns 9,519 shares of the retailer’s stock worth $9,423,000 after purchasing an additional 540 shares in the last quarter. Petix & Botte Co lifted its stake in Costco Wholesale by 0.4% in the second quarter. Petix & Botte Co now owns 7,960 shares of the retailer’s stock valued at $7,880,000 after buying an additional 30 shares during the last quarter. Francis Financial Inc. raised its stake in Costco Wholesale by 130.1% during the 2nd quarter. Francis Financial Inc. now owns 504 shares of the retailer’s stock valued at $499,000 after acquiring an additional 285 shares during the last quarter. Finally, ABN Amro Investment Solutions acquired a new stake in shares of Costco Wholesale during the second quarter worth $8,038,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COST shares. Oppenheimer reduced their target price on Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Wolfe Research began coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They set a “peer perform” rating for the company. Telsey Advisory Group restated an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Tuesday, November 4th. BTIG Research began coverage on Costco Wholesale in a report on Tuesday, October 14th. They issued a “buy” rating and a $1,115.00 price objective for the company. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Costco Wholesale in a research report on Thursday, October 9th. Nineteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,063.88.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Claudine Adamo sold 2,700 shares of Costco Wholesale stock in a transaction on Friday, October 24th. The stock was sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the sale, the executive vice president directly owned 6,851 shares in the company, valued at approximately $6,410,343.68. This trade represents a 28.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William Richard Wilcox sold 2,400 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $930.13, for a total value of $2,232,312.00. Following the completion of the transaction, the executive vice president owned 2,000 shares of the company’s stock, valued at approximately $1,860,260. This trade represents a 54.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,320 shares of company stock valued at $9,605,487 over the last ninety days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST traded up $6.06 on Thursday, hitting $920.06. 309,989 shares of the company were exchanged, compared to its average volume of 2,253,896. Costco Wholesale Corporation has a one year low of $871.71 and a one year high of $1,078.23. The firm has a market capitalization of $407.75 billion, a price-to-earnings ratio of 50.60, a PEG ratio of 5.54 and a beta of 0.98. The company’s 50 day moving average price is $936.35 and its two-hundred day moving average price is $967.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.15 earnings per share. Research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $1.30 dividend. The ex-dividend date is Friday, October 31st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale’s payout ratio is presently 28.56%.

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.