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 (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.
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