Zevin Asset Management LLC decreased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 15.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 38,430 shares of the retailer’s stock after selling 7,059 shares during the period. Costco Wholesale accounts for 3.6% of Zevin Asset Management LLC’s investment portfolio, making the stock its 8th largest position. Zevin Asset Management LLC’s holdings in Costco Wholesale were worth $11,072,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Great Valley Advisor Group Inc. bought a new position in Costco Wholesale in the 2nd quarter worth about $470,000. Beese Fulmer Investment Management Inc. bought a new position in shares of Costco Wholesale during the 2nd quarter valued at about $4,462,000. Aperio Group LLC increased its position in shares of Costco Wholesale by 0.4% during the 2nd quarter. Aperio Group LLC now owns 357,259 shares of the retailer’s stock valued at $94,409,000 after purchasing an additional 1,421 shares during the last quarter. HCR Wealth Advisors increased its position in shares of Costco Wholesale by 15.1% during the 2nd quarter. HCR Wealth Advisors now owns 11,654 shares of the retailer’s stock valued at $3,080,000 after purchasing an additional 1,526 shares during the last quarter. Finally, CKW Financial Group increased its position in shares of Costco Wholesale by 33.1% during the 2nd quarter. CKW Financial Group now owns 804 shares of the retailer’s stock valued at $212,000 after purchasing an additional 200 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on COST. Edward Jones lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Evercore ISI reiterated a “buy” rating on shares of Costco Wholesale in a research report on Sunday, August 11th. ValuEngine lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein lowered Costco Wholesale from a “market perform” rating to an “underperform” rating and increased their price objective for the company from $220.00 to $230.00 in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the stock. Costco Wholesale currently has an average rating of “Buy” and an average target price of $295.57.
In other Costco Wholesale news, VP Paul G. Moulton sold 5,976 shares of Costco Wholesale stock in a transaction on Friday, October 11th. The stock was sold at an average price of $298.06, for a total value of $1,781,206.56. Following the completion of the sale, the vice president now owns 36,010 shares of the company’s stock, valued at approximately $10,733,140.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph P. Portera sold 14,095 shares of Costco Wholesale stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $299.52, for a total value of $4,221,734.40. Following the completion of the sale, the vice president now directly owns 6,211 shares of the company’s stock, valued at approximately $1,860,318.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,093 shares of company stock valued at $9,915,511. 0.21% of the stock is owned by corporate insiders.
COST stock traded down $2.59 during trading on Friday, hitting $302.62. 1,501,500 shares of the company traded hands, compared to its average volume of 1,980,943. Costco Wholesale Co. has a 1 year low of $189.51 and a 1 year high of $307.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 1.01. The firm has a market capitalization of $131.54 billion, a PE ratio of 36.95, a P/E/G ratio of 4.09 and a beta of 0.93. The company has a 50-day moving average of $294.80 and a 200-day moving average of $273.79.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, October 3rd. The retailer reported $2.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.54 by $0.15. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The company had revenue of $47.50 billion during the quarter, compared to analyst estimates of $47.71 billion. During the same quarter last year, the company earned $2.36 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts expect that Costco Wholesale Co. will post 8.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.75%.
Costco Wholesale Company Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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