CIBC Asset Management Inc Has $163.97 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

CIBC Asset Management Inc raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.9% in the third quarter, Holdings Channel.com reports. The firm owned 185,056 shares of the retailer’s stock after buying an additional 6,963 shares during the period. CIBC Asset Management Inc’s holdings in Costco Wholesale were worth $163,968,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Balboa Wealth Partners lifted its stake in Costco Wholesale by 4.6% in the third quarter. Balboa Wealth Partners now owns 4,621 shares of the retailer’s stock valued at $4,097,000 after purchasing an additional 204 shares during the last quarter. ING Groep NV raised its stake in shares of Costco Wholesale by 24.4% in the third quarter. ING Groep NV now owns 129,143 shares of the retailer’s stock valued at $114,488,000 after buying an additional 25,345 shares during the period. Sargent Investment Group LLC lifted its position in shares of Costco Wholesale by 6.1% during the 3rd quarter. Sargent Investment Group LLC now owns 4,129 shares of the retailer’s stock valued at $3,660,000 after buying an additional 238 shares during the last quarter. Omnia Family Wealth LLC increased its holdings in Costco Wholesale by 14.4% in the 3rd quarter. Omnia Family Wealth LLC now owns 325 shares of the retailer’s stock worth $288,000 after acquiring an additional 41 shares during the last quarter. Finally, Metis Global Partners LLC raised its stake in Costco Wholesale by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 21,557 shares of the retailer’s stock valued at $19,111,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a report on Thursday, August 8th. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a report on Tuesday, September 24th. Melius Research began coverage on Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective on the stock. Finally, Loop Capital raised their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $905.30.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,016 shares of company stock worth $9,826,115. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Price Performance

COST stock opened at $923.89 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $896.25 and its two-hundred day moving average price is $855.99. The stock has a market capitalization of $409.35 billion, a price-to-earnings ratio of 55.76, a PEG ratio of 5.76 and a beta of 0.80. Costco Wholesale Co. has a 12-month low of $572.24 and a 12-month high of $962.00.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.86 EPS. As a group, equities analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is currently 28.00%.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.