Bridge Creek Capital Management LLC Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

Bridge Creek Capital Management LLC cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,867 shares of the retailer’s stock after selling 140 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Costco Wholesale were worth $826,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COST. Krane Funds Advisors LLC purchased a new stake in Costco Wholesale during the second quarter valued at about $26,000. Massey Quick Simon & CO. LLC purchased a new stake in Costco Wholesale during the second quarter valued at about $27,000. Cerebellum GP LLC purchased a new stake in Costco Wholesale during the third quarter valued at about $32,000. Thor Advisors LLC purchased a new stake in Costco Wholesale during the first quarter valued at about $35,000. Finally, Princeton Global Asset Management LLC lifted its holdings in Costco Wholesale by 88.6% during the second quarter. Princeton Global Asset Management LLC now owns 132 shares of the retailer’s stock valued at $35,000 after purchasing an additional 62 shares during the last quarter. 71.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of COST stock traded up $0.24 during trading on Thursday, hitting $297.14. The company had a trading volume of 1,586,056 shares, compared to its average volume of 2,597,380. The company has a quick ratio of 0.52, a current ratio of 1.01 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average is $289.64 and its two-hundred day moving average is $265.39. The stock has a market capitalization of $129.04 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week high of $307.34.



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, topping the Thomson Reuters’ consensus estimate of $2.54 by $0.15. The company had revenue of $47.50 billion for the quarter, compared to analysts’ expectations of $47.71 billion. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. Costco Wholesale’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.36 earnings per share. On average, research analysts predict that Costco Wholesale Co. will post 8.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Thursday, August 29th. Costco Wholesale’s dividend payout ratio (DPR) is 31.75%.

Several equities research analysts have commented on the stock. UBS Group upped their price objective on shares of Costco Wholesale from $280.00 to $335.00 and gave the company a “buy” rating in a report on Monday, September 9th. Oppenheimer cut Costco Wholesale from an “outperform” rating to a “market perform” rating and upped their price target for the company from $295.00 to $300.00 in a research report on Wednesday, September 11th. Goldman Sachs Group assumed coverage on Costco Wholesale in a research report on Thursday, July 11th. They set a “buy” rating and a $290.00 price target on the stock. BMO Capital Markets upped their price target on Costco Wholesale from $275.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Nomura upped their price target on Costco Wholesale from $235.00 to $256.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $293.13.

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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