Turn8 Private Wealth Inc. Increases Stake in Costco Wholesale Corporation $COST

Turn8 Private Wealth Inc. lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,666 shares of the retailer’s stock after buying an additional 90 shares during the quarter. Costco Wholesale accounts for about 2.6% of Turn8 Private Wealth Inc.’s investment portfolio, making the stock its 20th largest holding. Turn8 Private Wealth Inc.’s holdings in Costco Wholesale were worth $3,586,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in COST. Nuveen LLC purchased a new position in shares of Costco Wholesale in the first quarter worth about $3,461,159,000. Kingstone Capital Partners Texas LLC boosted its holdings in Costco Wholesale by 418,980.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,359,422 shares of the retailer’s stock valued at $2,335,686,000 after acquiring an additional 2,358,859 shares during the period. Vanguard Group Inc. grew its position in Costco Wholesale by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock worth $40,332,515,000 after acquiring an additional 443,101 shares during the last quarter. National Bank of Canada FI increased its stake in Costco Wholesale by 84.0% in the 1st quarter. National Bank of Canada FI now owns 812,188 shares of the retailer’s stock worth $768,114,000 after purchasing an additional 370,806 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in Costco Wholesale by 2,369.5% in the second quarter. Valeo Financial Advisors LLC now owns 323,288 shares of the retailer’s stock valued at $320,036,000 after purchasing an additional 310,197 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Trading Down 0.2%

NASDAQ:COST opened at $913.86 on Wednesday. The company has a 50-day moving average price of $937.07 and a 200-day moving average price of $967.78. The stock has a market cap of $405.00 billion, a price-to-earnings ratio of 50.18, a P/E/G ratio of 5.54 and a beta of 0.98. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 12 month low of $871.71 and a 12 month high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the prior year, the firm earned $5.15 earnings per share. Costco Wholesale’s revenue was up 8.1% on a year-over-year basis. Equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a $1.30 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is currently 28.56%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COST. Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Wolfe Research assumed coverage on shares of Costco Wholesale in a research report on Thursday, September 18th. They set a “peer perform” rating for the company. Morgan Stanley cut their price target on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Evercore ISI decreased their price objective on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,063.88.

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the completion of the transaction, the executive vice president owned 6,851 shares in the company, valued at $6,410,343.68. This trade represents a 28.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tiffany Marie Barbre sold 1,239 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the sale, the insider directly owned 5,155 shares in the company, valued at approximately $4,817,966.10. The trade was a 19.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 7,920 shares of company stock worth $7,373,175. 0.18% of the stock is owned by company insiders.

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.