Mengis Capital Management Inc. Reduces Stake in Costco Wholesale Co. (NASDAQ:COST)

Mengis Capital Management Inc. lowered its stake in Costco Wholesale Co. (NASDAQ:COSTFree Report) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,879 shares of the retailer’s stock after selling 53 shares during the period. Costco Wholesale accounts for 3.0% of Mengis Capital Management Inc.’s portfolio, making the stock its 4th largest position. Mengis Capital Management Inc.’s holdings in Costco Wholesale were worth $14,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its position in Costco Wholesale by 118,320.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock worth $3,376,513,000 after acquiring an additional 7,390,278 shares in the last quarter. Norges Bank acquired a new position in Costco Wholesale during the 4th quarter worth approximately $2,328,844,000. Osaic Holdings Inc. boosted its stake in shares of Costco Wholesale by 846.8% during the second quarter. Osaic Holdings Inc. now owns 2,535,938 shares of the retailer’s stock valued at $143,580,000 after purchasing an additional 2,268,107 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Costco Wholesale by 18.0% during the fourth quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock worth $3,941,708,000 after purchasing an additional 1,315,174 shares during the period. Finally, Barclays PLC increased its stake in shares of Costco Wholesale by 172.6% in the second quarter. Barclays PLC now owns 1,357,548 shares of the retailer’s stock valued at $730,877,000 after buying an additional 859,599 shares during the period. 66.31% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Down 0.1 %

Shares of Costco Wholesale stock traded down $0.99 during trading on Monday, hitting $722.41. The company’s stock had a trading volume of 1,564,408 shares, compared to its average volume of 2,050,197. Costco Wholesale Co. has a 52 week low of $465.33 and a 52 week high of $728.17. The company has a market capitalization of $320.55 billion, a PE ratio of 49.31, a P/E/G ratio of 5.11 and a beta of 0.77. The company has a fifty day simple moving average of $669.74 and a two-hundred day simple moving average of $599.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.60 and a current ratio of 1.09.

Costco Wholesale (NASDAQ:COSTGet Free Report) last posted its quarterly earnings results on Thursday, December 14th. The retailer reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.07. The company had revenue of $57.80 billion for the quarter, compared to the consensus estimate of $57.79 billion. Costco Wholesale had a return on equity of 27.44% and a net margin of 2.65%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.10 EPS. Equities research analysts predict that Costco Wholesale Co. will post 15.66 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Friday, February 2nd will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, February 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 27.81%.

Insider Buying and Selling

In other Costco Wholesale news, CFO Richard A. Galanti sold 1,112 shares of Costco Wholesale stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $680.21, for a total value of $756,393.52. Following the completion of the sale, the chief financial officer now owns 24,300 shares of the company’s stock, valued at approximately $16,529,103. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Costco Wholesale news, VP Yoram Rubanenko sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $680.33, for a total transaction of $1,700,825.00. Following the sale, the vice president now owns 5,910 shares in the company, valued at approximately $4,020,750.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard A. Galanti sold 1,112 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $680.21, for a total transaction of $756,393.52. Following the completion of the transaction, the chief financial officer now directly owns 24,300 shares of the company’s stock, valued at approximately $16,529,103. The disclosure for this sale can be found here. Insiders sold a total of 13,752 shares of company stock worth $9,377,669 in the last three months. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on COST. Raymond James increased their price target on Costco Wholesale from $580.00 to $670.00 and gave the stock an “outperform” rating in a report on Friday, December 15th. Citigroup lifted their price objective on shares of Costco Wholesale from $585.00 to $630.00 and gave the company a “neutral” rating in a research note on Friday, December 15th. Stifel Nicolaus increased their target price on shares of Costco Wholesale from $615.00 to $675.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Tigress Financial increased their price objective on Costco Wholesale from $635.00 to $745.00 and gave the stock a “buy” rating in a research note on Friday, December 29th. Finally, BMO Capital Markets upped their price objective on Costco Wholesale from $612.00 to $700.00 and gave the company an “outperform” rating in a research note on Friday, December 15th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $659.96.

Get Our Latest Stock Report on COST

Costco Wholesale Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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