W.H. Cornerstone Investments Inc. Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

W.H. Cornerstone Investments Inc. lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,104 shares of the retailer’s stock after selling 262 shares during the quarter. Costco Wholesale accounts for 3.7% of W.H. Cornerstone Investments Inc.’s investment portfolio, making the stock its 8th largest position. W.H. Cornerstone Investments Inc.’s holdings in Costco Wholesale were worth $5,411,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in COST. Resurgent Financial Advisors LLC grew its position in shares of Costco Wholesale by 1.0% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,371 shares of the retailer’s stock valued at $1,004,000 after acquiring an additional 14 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Costco Wholesale by 22.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,719 shares of the retailer’s stock worth $5,655,000 after buying an additional 1,408 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Costco Wholesale by 2.1% in the first quarter. Nordea Investment Management AB now owns 21,547 shares of the retailer’s stock valued at $15,729,000 after buying an additional 434 shares during the period. Quent Capital LLC raised its stake in shares of Costco Wholesale by 5.6% in the first quarter. Quent Capital LLC now owns 2,349 shares of the retailer’s stock valued at $1,721,000 after buying an additional 124 shares during the period. Finally, MRA Advisory Group purchased a new position in shares of Costco Wholesale during the 1st quarter valued at $372,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the sale, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock valued at $11,238,510 in the last quarter. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on COST shares. Oppenheimer boosted their price objective on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Loop Capital boosted their price target on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Telsey Advisory Group restated an “outperform” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research note on Monday. BMO Capital Markets reiterated an “outperform” rating and issued a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Finally, DA Davidson restated a “neutral” rating and set a $880.00 target price on shares of Costco Wholesale in a research report on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $905.30.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $886.07 on Tuesday. The company’s fifty day moving average is $892.07 and its 200 day moving average is $847.07. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a 52 week low of $560.13 and a 52 week high of $923.83. The stock has a market cap of $392.59 billion, a PE ratio of 53.47, a PEG ratio of 5.40 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same period in the prior year, the business posted $4.86 EPS. Costco Wholesale’s quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts anticipate that Costco Wholesale Co. will post 17.75 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, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $1.16 per share. The ex-dividend date is Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.52%. 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.