Costco Wholesale Co. (COST) Position Cut by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 24.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,235 shares of the retailer’s stock after selling 3,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Costco Wholesale were worth $2,169,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of COST. MUFG Securities EMEA plc bought a new stake in Costco Wholesale during the second quarter valued at $103,000. Parkside Investments LLC bought a new stake in Costco Wholesale during the third quarter valued at $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Costco Wholesale during the second quarter valued at $119,000. Capital Advisors Ltd. LLC increased its stake in Costco Wholesale by 180.0% during the third quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock valued at $132,000 after purchasing an additional 360 shares during the last quarter. Finally, Legacy Advisors LLC increased its stake in Costco Wholesale by 632.9% during the third quarter. Legacy Advisors LLC now owns 579 shares of the retailer’s stock valued at $136,000 after purchasing an additional 500 shares during the last quarter. 71.49% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on COST shares. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating in a research note on Wednesday, July 25th. Citigroup boosted their target price on shares of Costco Wholesale from $222.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. BidaskClub lowered shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. Cowen reiterated a “buy” rating and set a $240.00 target price on shares of Costco Wholesale in a research note on Friday, August 10th. Finally, Loop Capital boosted their target price on shares of Costco Wholesale to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Nine research 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 stock. Costco Wholesale currently has a consensus rating of “Buy” and a consensus target price of $237.94.



Costco Wholesale stock opened at $222.42 on Tuesday. The stock has a market cap of $95.69 billion, a PE ratio of 31.90, a PEG ratio of 2.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 0.46. Costco Wholesale Co. has a one year low of $159.47 and a one year high of $245.16.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, topping the consensus estimate of $2.34 by $0.02. The business had revenue of $44.41 billion during the quarter, compared to analyst estimates of $44.17 billion. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 earnings per share. Equities research analysts predict that Costco Wholesale Co. will post 7.7 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.28 annualized dividend and a dividend yield of 1.03%. Costco Wholesale’s dividend payout ratio is currently 33.38%.

In other news, VP Franz E. Lazarus sold 23,000 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 6,830 shares in the company, valued at $1,548,770.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $218.65, for a total transaction of $655,950.00. 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 90 days. Insiders own 0.58% of the company’s stock.

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.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).

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

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