574 Costco Wholesale Corporation $COST Shares Sold by HFR Wealth Management LLC

HFR Wealth Management LLC trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,276 shares of the retailer’s stock after selling 574 shares during the period. Costco Wholesale makes up approximately 4.1% of HFR Wealth Management LLC’s holdings, making the stock its 6th largest position. HFR Wealth Management LLC’s holdings in Costco Wholesale were worth $15,727,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp increased its position in Costco Wholesale by 31.7% during the 2nd quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock valued at $22,359,224,000 after buying an additional 5,749,362 shares in the last quarter. Bank of America Corp DE raised its stake in Costco Wholesale by 11.5% during the first quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer’s stock valued at $7,488,203,000 after buying an additional 773,651 shares during the last quarter. Fisher Asset Management LLC raised its stake in Costco Wholesale by 1.2% during the third quarter. Fisher Asset Management LLC now owns 3,291,669 shares of the retailer’s stock valued at $2,996,538,000 after buying an additional 38,629 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Costco Wholesale by 5.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,068,312 shares of the retailer’s stock valued at $2,870,314,000 after buying an additional 160,893 shares during the last quarter. Finally, Amundi boosted its holdings in Costco Wholesale by 11.1% in the first quarter. Amundi now owns 2,839,016 shares of the retailer’s stock worth $2,828,881,000 after acquiring an additional 283,360 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on COST shares. Wells Fargo & Company cut their target price on Costco Wholesale from $1,000.00 to $950.00 and set an “equal weight” rating on the stock in a research note on Friday, September 25th. Sanford C. Bernstein raised their price target on Costco Wholesale from $1,143.00 to $1,155.00 and gave the company an “outperform” rating in a report on Wednesday. HSBC raised Costco Wholesale to a “buy” rating in a research report on Friday, September 25th. Raymond James Financial dropped their price target on shares of Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating on the stock in a research note on Friday, September 25th. Finally, Jefferies Financial Group cut their price objective on shares of Costco Wholesale from $1,130.00 to $1,100.00 in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $1,092.23.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock traded up $14.00 during trading on Friday, hitting $1,106.21. 1,873,135 shares of the company’s stock traded hands, compared to its average volume of 2,385,142. Costco Wholesale Corporation has a 1 year low of $844.06 and a 1 year high of $1,109.50. The business has a 50-day simple moving average of $967.12 and a 200-day simple moving average of $975.13. The stock has a market capitalization of $490.19 billion, a P/E ratio of 53.29, a PEG ratio of 4.82 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.06 and a quick ratio of 0.62.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 24th. The retailer reported $6.75 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.21. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The business had revenue of $95.72 billion during the quarter, compared to analyst estimates of $94.97 billion. During the same quarter in the previous year, the firm earned $5.87 EPS. Costco Wholesale’s revenue was up 11.1% on a year-over-year basis. As a group, analysts forecast that Costco Wholesale Corporation will post 22.70 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently declared a special dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be issued a dividend of $30.00 per share. The ex-dividend date of this dividend is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.32%.

Key Costco Wholesale News

Here’s some of the latest news about COST:

• Positive Sentiment: Costco declared a one-time $30-per-share special dividend, totaling about $13.3 billion and payable December 4, and authorized a new $4 billion share repurchase program. The capital returns are supporting investor demand and underscore the company’s cash-generation strength. Article: Costco’s Record $30 Dividend Shows Just How Strong Its Cash Machine Is
• Positive Sentiment: Costco’s recent sales growth and strong membership-focused business have helped fuel optimism ahead of its next quarterly results, scheduled for December 10. Article: Costco Hits All-Time High Amid $4 Billion Buyback, Special Dividend
• Neutral Sentiment: Two executives, Teresa Jones and Sarah Catherine George, disclosed sales of 900 and 756 shares, respectively. Insider sales can attract attention, but the reports do not establish that the transactions reflect a change in business outlook. Article: Costco insider trades

Insider Activity at Costco Wholesale

In other news, EVP Sarah Catherine George sold 756 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $1,096.01, for a total transaction of $828,583.56. Following the completion of the transaction, the executive vice president directly owned 3,112 shares of the company’s stock, valued at $3,410,783.12. The trade was a 19.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Richard Wilcox sold 1,100 shares of the stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the transaction, the executive vice president owned 3,094 shares in the company, valued at approximately $2,964,701.74. This trade represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 4,956 shares of company stock valued at $4,873,216. Insiders own 0.10% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line. The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.