Tobam Reduces Stock Holdings in Costco Wholesale Corporation $COST

Tobam lowered its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 43.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146 shares of the retailer’s stock after selling 113 shares during the quarter. Tobam’s holdings in Costco Wholesale were worth $145,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peterson Wealth Services boosted its holdings in shares of Costco Wholesale by 0.5% during the 2nd quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock worth $13,479,000 after purchasing an additional 72 shares during the last quarter. Fishman Jay A Ltd. MI lifted its position in Costco Wholesale by 3.5% during the second quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock worth $16,718,000 after buying an additional 575 shares in the last quarter. Independent Solutions Wealth Management LLC boosted its stake in Costco Wholesale by 0.3% during the second quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock worth $20,430,000 after buying an additional 53 shares during the last quarter. Laffer Tengler Investments Inc. boosted its stake in Costco Wholesale by 22.7% during the second quarter. Laffer Tengler Investments Inc. now owns 5,903 shares of the retailer’s stock worth $5,844,000 after buying an additional 1,092 shares during the last quarter. Finally, Rossmore Private Capital grew its holdings in Costco Wholesale by 0.9% in the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock valued at $6,325,000 after buying an additional 62 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Tuesday, November 4th. Evercore ISI decreased their target price on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a report on Friday, September 26th. Argus raised their price target on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Mizuho reduced their price target on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Finally, Oppenheimer lowered their price objective on Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,063.88.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $8,912,100. This trade represents a 25.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP William Richard Wilcox sold 2,400 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $930.13, for a total value of $2,232,312.00. Following the completion of the sale, the executive vice president owned 2,000 shares in the company, valued at approximately $1,860,260. The trade was a 54.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,320 shares of company stock worth $9,605,487 over the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Trading Up 0.0%

COST opened at $914.00 on Thursday. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The firm has a market cap of $405.07 billion, a P/E ratio of 50.19, a P/E/G ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a 52 week low of $871.71 and a 52 week high of $1,078.23. The business has a fifty day simple moving average of $936.35 and a 200-day simple moving average of $967.41.

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

Costco Wholesale Announces Dividend

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