Confluence Investment Management LLC Has $499,000 Stake in Costco Wholesale Co. (COST)

Confluence Investment Management LLC lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 40.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,126 shares of the retailer’s stock after purchasing an additional 617 shares during the period. Confluence Investment Management LLC’s holdings in Costco Wholesale were worth $499,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of COST. MUFG Securities EMEA plc purchased a new stake in Costco Wholesale in the second quarter worth about $103,000. Parkside Investments LLC purchased a new stake in Costco Wholesale in the third quarter worth about $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Costco Wholesale in the second quarter worth about $119,000. Capital Advisors Ltd. LLC lifted its holdings in Costco Wholesale by 180.0% in the third quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock worth $132,000 after buying an additional 360 shares during the period. Finally, Legacy Advisors LLC lifted its holdings in Costco Wholesale by 632.9% in the third quarter. Legacy Advisors LLC now owns 579 shares of the retailer’s stock worth $136,000 after buying an additional 500 shares during the period. Institutional investors own 71.50% of the company’s stock.

Several brokerages have commented on COST. BidaskClub upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 23rd. Northcoast Research raised shares of Costco Wholesale from a “neutral” rating to a “buy” rating in a research note on Friday, October 12th. Argus reaffirmed a “buy” rating and set a $255.00 target price on shares of Costco Wholesale in a research note on Thursday, October 11th. Loop Capital set a $265.00 target price on shares of Costco Wholesale and gave the company a “buy” rating in a research note on Wednesday, October 10th. Finally, Royal Bank of Canada decreased their target price on shares of Costco Wholesale from $255.00 to $253.00 and set an “outperform” rating for the company in a research note on Friday, October 5th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $237.94.



Shares of COST opened at $218.19 on Monday. The company has a market cap of $95.69 billion, a P/E ratio of 31.95, a PEG ratio of 2.78 and a beta of 0.95. The company has a quick ratio of 0.46, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. Costco Wholesale Co. has a twelve month low of $159.47 and a twelve month high of $245.16.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.02. The company had revenue of $44.41 billion during the quarter, compared to the consensus estimate of $44.17 billion. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 earnings per share. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 7.7 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, November 8th. Costco Wholesale’s dividend payout ratio (DPR) is currently 33.38%.

In related news, VP Franz E. Lazarus sold 23,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $226.76, for a total transaction of $5,215,480.00. Following the completion of the sale, the vice president now owns 6,830 shares of the company’s stock, valued at $1,548,770.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard M. Libenson sold 2,049 shares of the firm’s stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $224.00, for a total transaction of $458,976.00. Following the sale, the director now directly owns 3,049 shares of the company’s stock, valued at approximately $682,976. The disclosure for this sale can be found here. Insiders have sold 40,649 shares of company stock valued at $9,228,064 in the last three months. 0.74% of the stock is owned by insiders.

About Costco Wholesale

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

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