Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 16,748 shares of the retailer’s stock after acquiring an additional 67 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Costco Wholesale were worth $4,825,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Great Valley Advisor Group Inc. purchased a new stake in Costco Wholesale in the second quarter valued at approximately $470,000. Beese Fulmer Investment Management Inc. purchased a new stake in Costco Wholesale in the second quarter valued at approximately $4,462,000. Aperio Group LLC boosted its position in Costco Wholesale by 0.4% in the second quarter. Aperio Group LLC now owns 357,259 shares of the retailer’s stock valued at $94,409,000 after buying an additional 1,421 shares during the last quarter. HCR Wealth Advisors boosted its position in Costco Wholesale by 15.1% in the second quarter. HCR Wealth Advisors now owns 11,654 shares of the retailer’s stock valued at $3,080,000 after buying an additional 1,526 shares during the last quarter. Finally, CKW Financial Group boosted its position in Costco Wholesale by 33.1% in the second quarter. CKW Financial Group now owns 804 shares of the retailer’s stock valued at $212,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 71.14% of the company’s stock.
In related news, EVP Russell D. Miller sold 1,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $302.83, for a total value of $302,830.00. Following the completion of the transaction, the executive vice president now directly owns 1 shares of the company’s stock, valued at approximately $302.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 333 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $297.50, for a total value of $99,067.50. Following the completion of the transaction, the director now directly owns 41,470 shares of the company’s stock, valued at $12,337,325. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,093 shares of company stock valued at $9,915,511. Corporate insiders own 0.21% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last announced its earnings results 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 business had revenue of $47.50 billion during the quarter, compared to the consensus estimate of $47.71 billion. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.36 EPS. On average, equities analysts forecast that Costco Wholesale Co. will post 8.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, October 31st. Costco Wholesale’s payout ratio is 31.75%.
Several research firms have commented on COST. Liberum Capital restated a “buy” rating on shares of Costco Wholesale in a research report on Monday, October 28th. ValuEngine lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein lowered Costco Wholesale from a “market perform” rating to an “underperform” rating and upped their price objective for the stock from $220.00 to $230.00 in a research report on Wednesday, September 18th. Oppenheimer lowered Costco Wholesale from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $295.00 to $300.00 in a research report on Wednesday, September 11th. Finally, Barclays set a $275.00 price objective on Costco Wholesale and gave the stock a “hold” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $295.57.
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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