Livingston Group Asset Management CO operating as Southport Capital Management Has $5.25 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Livingston Group Asset Management CO operating as Southport Capital Management cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.9% in the third quarter, Holdings Channel reports. The fund owned 11,682 shares of the retailer’s stock after selling 601 shares during the period. Costco Wholesale comprises approximately 2.1% of Livingston Group Asset Management CO operating as Southport Capital Management’s holdings, making the stock its 7th biggest position. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Costco Wholesale were worth $5,249,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Canton Hathaway LLC bought a new position in shares of Costco Wholesale during the third quarter valued at $38,000. Pacific Wealth Strategies Group Inc. lifted its holdings in shares of Costco Wholesale by 7.1% during the third quarter. Pacific Wealth Strategies Group Inc. now owns 2,006 shares of the retailer’s stock valued at $901,000 after acquiring an additional 133 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in shares of Costco Wholesale by 1.6% during the third quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 21,025 shares of the retailer’s stock valued at $9,447,000 after acquiring an additional 336 shares during the period. Pachira Investments Inc. lifted its holdings in shares of Costco Wholesale by 6.1% during the third quarter. Pachira Investments Inc. now owns 553 shares of the retailer’s stock valued at $248,000 after acquiring an additional 32 shares during the period. Finally, WESPAC Advisors SoCal LLC lifted its holdings in shares of Costco Wholesale by 3.9% during the third quarter. WESPAC Advisors SoCal LLC now owns 3,964 shares of the retailer’s stock valued at $1,769,000 after acquiring an additional 147 shares during the period. 66.87% of the stock is owned by institutional investors.

COST traded up $4.47 during midday trading on Thursday, reaching $549.73. 2,315,610 shares of the company were exchanged, compared to its average volume of 2,180,508. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.52 and a current ratio of 1.00. Costco Wholesale Co. has a one year low of $307.00 and a one year high of $550.83. The stock has a market capitalization of $242.88 billion, a P/E ratio of 48.78, a PEG ratio of 5.08 and a beta of 0.65. The stock’s 50-day simple moving average is $481.58 and its 200 day simple moving average is $438.24.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Wednesday, September 22nd. The retailer reported $3.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.57 by $0.33. Costco Wholesale had a return on equity of 29.62% and a net margin of 2.56%. The firm had revenue of $61.44 billion for the quarter, compared to analysts’ expectations of $61.45 billion. During the same quarter last year, the business earned $3.13 earnings per share. The company’s revenue was up 17.5% compared to the same quarter last year. On average, research analysts anticipate that Costco Wholesale Co. will post 12.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Friday, October 29th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, October 28th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.04%.

COST has been the subject of a number of research reports. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 target price for the company in a research note on Monday, September 6th. Jefferies Financial Group raised their target price on Costco Wholesale from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. Oppenheimer raised their target price on Costco Wholesale from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Thursday, November 4th. They noted that the move was a valuation call. Wells Fargo & Company raised their target price on Costco Wholesale from $500.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, November 4th. Finally, DA Davidson raised their target price on Costco Wholesale from $390.00 to $423.00 and gave the company a “neutral” rating in a research note on Friday, September 24th. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $496.23.

Costco Wholesale Profile

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.

Featured Story: What moving averages are used to define a golden cross?

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)

Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.