Steginsky Capital LLC Sells 914 Shares of Costco Wholesale Co. (NASDAQ:COST)

Steginsky Capital LLC lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,627 shares of the retailer’s stock after selling 914 shares during the quarter. Costco Wholesale accounts for approximately 20.7% of Steginsky Capital LLC’s investment portfolio, making the stock its biggest position. Steginsky Capital LLC’s holdings in Costco Wholesale were worth $31,613,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Envestnet Asset Management Inc. boosted its holdings in shares of Costco Wholesale by 12.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 198,150 shares of the retailer’s stock valued at $52,363,000 after acquiring an additional 22,204 shares in the last quarter. Northwest Capital Management Inc acquired a new stake in shares of Costco Wholesale during the 2nd quarter valued at $201,000. Boys Arnold & Co. Inc. boosted its holdings in shares of Costco Wholesale by 1.1% during the 2nd quarter. Boys Arnold & Co. Inc. now owns 14,092 shares of the retailer’s stock valued at $3,724,000 after acquiring an additional 151 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in shares of Costco Wholesale by 10.4% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 37,009 shares of the retailer’s stock valued at $9,737,000 after acquiring an additional 3,486 shares in the last quarter. Finally, Wright Investors Service Inc. boosted its holdings in shares of Costco Wholesale by 1.0% during the 2nd quarter. Wright Investors Service Inc. now owns 6,677 shares of the retailer’s stock valued at $1,764,000 after acquiring an additional 67 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on the company. Tigress Financial reaffirmed a “buy” rating on shares of Costco Wholesale in a research report on Friday, June 28th. Evercore ISI reaffirmed a “buy” rating on shares of Costco Wholesale in a research report on Sunday. Wells Fargo & Co raised their target price on Costco Wholesale from $225.00 to $240.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. They noted that the move was a valuation call. Gordon Haskett lowered Costco Wholesale from an “accumulate” rating to a “hold” rating and set a $244.90 target price for the company. in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Finally, Loop Capital raised their target price on Costco Wholesale to $300.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $266.04.

Shares of COST stock traded up $2.62 during mid-day trading on Thursday, hitting $270.77. The company’s stock had a trading volume of 89,238 shares, compared to its average volume of 1,786,482. The stock’s fifty day simple moving average is $274.09. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week high of $284.31. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The company has a market cap of $119.32 billion, a P/E ratio of 39.64, a PEG ratio of 3.80 and a beta of 0.95.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.06. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The firm had revenue of $34.74 billion during the quarter, compared to analyst estimates of $34.72 billion. During the same period last year, the company posted $1.70 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities analysts forecast that Costco Wholesale Co. will post 8.04 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 29th. Costco Wholesale’s payout ratio is 38.07%.

Costco Wholesale declared that its board has initiated a share repurchase plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the retailer to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

In related news, Director Susan L. Decker sold 1,646 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $268.25, for a total value of $441,539.50. Following the completion of the sale, the director now directly owns 41,803 shares of the company’s stock, valued at approximately $11,213,654.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Decker sold 2,790 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $254.62, for a total value of $710,389.80. Following the completion of the sale, the director now directly owns 45,405 shares of the company’s stock, valued at $11,561,021.10. The disclosure for this sale can be found here. Insiders sold a total of 28,136 shares of company stock valued at $7,380,374 over the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

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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