Sarasin & Partners LLP cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 736,369 shares of the retailer’s stock after selling 137,780 shares during the quarter. Costco Wholesale makes up 3.3% of Sarasin & Partners LLP’s portfolio, making the stock its 9th largest holding. Sarasin & Partners LLP’s holdings in Costco Wholesale were worth $172,958,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. MUFG Securities EMEA plc bought a new position in Costco Wholesale in the 2nd quarter worth approximately $103,000. Parkside Investments LLC acquired a new stake in Costco Wholesale in the third quarter worth approximately $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Costco Wholesale in the second quarter worth approximately $119,000. Lee Financial Co lifted its position in Costco Wholesale by 63.7% in the third quarter. Lee Financial Co now owns 555 shares of the retailer’s stock worth $130,000 after purchasing an additional 216 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its position in Costco Wholesale by 180.0% in the third quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock worth $132,000 after purchasing an additional 360 shares during the period. 71.82% of the stock is owned by institutional investors.
A number of research firms have weighed in on COST. Cowen restated a “buy” rating and issued a $240.00 target price on shares of Costco Wholesale in a research report on Friday, August 10th. Telsey Advisory Group increased their price objective on Costco Wholesale from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, August 7th. Loop Capital increased their price objective on Costco Wholesale to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. BidaskClub downgraded Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 15th. Finally, Barclays downgraded Costco Wholesale from an “overweight” rating to an “equal weight” rating and set a $240.00 price objective for the company. in a research report on Monday, September 17th. Eight equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Costco Wholesale presently has an average rating of “Buy” and a consensus target price of $237.94.
COST opened at $220.06 on Monday. The firm has a market capitalization of $96.43 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 2.82 and a beta of 0.91. Costco Wholesale Co. has a 12-month low of $171.12 and a 12-month high of $245.16. The company has a quick ratio of 0.46, a current ratio of 1.02 and a debt-to-equity ratio of 0.50.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.34 by $0.02. The company had revenue of $44.41 billion during the quarter, compared to analyst estimates of $44.17 billion. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 earnings per share. Sell-side analysts anticipate that Costco Wholesale Co. will post 7.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were issued a $0.57 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.04%. Costco Wholesale’s payout ratio is currently 33.38%.
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Costco Wholesale Profile
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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