Epstein & White Financial LLC cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 15.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 778 shares of the retailer’s stock after selling 144 shares during the period. Epstein & White Financial LLC’s holdings in Costco Wholesale were worth $276,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Provident Wealth Management LLC bought a new position in shares of Costco Wholesale during the third quarter valued at approximately $26,000. Cerebellum GP LLC acquired a new stake in Costco Wholesale in the second quarter valued at approximately $32,000. Red Cedar Capital LLC boosted its stake in Costco Wholesale by 588.2% in the second quarter. Red Cedar Capital LLC now owns 117 shares of the retailer’s stock valued at $35,000 after acquiring an additional 100 shares in the last quarter. Campbell Wealth Management acquired a new stake in Costco Wholesale in the second quarter valued at approximately $49,000. Finally, Gables Capital Management Inc. boosted its stake in Costco Wholesale by 40.5% in the second quarter. Gables Capital Management Inc. now owns 177 shares of the retailer’s stock valued at $54,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 68.20% of the company’s stock.
COST has been the subject of several recent analyst reports. Credit Suisse Group raised their target price on shares of Costco Wholesale from $328.00 to $370.00 and gave the company a “neutral” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. raised their target price on shares of Costco Wholesale from $365.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Oppenheimer raised their target price on shares of Costco Wholesale from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Jefferies Financial Group upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and raised their target price for the company from $321.00 to $435.00 in a research note on Thursday. Finally, Robert W. Baird lifted their price objective on shares of Costco Wholesale from $335.00 to $375.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $368.54.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 24th. The retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. Costco Wholesale had a return on equity of 22.71% and a net margin of 2.40%. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $52.03 billion. During the same quarter in the prior year, the business earned $2.69 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that Costco Wholesale Co. will post 9.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.73%. Costco Wholesale’s payout ratio is 31.64%.
In other Costco Wholesale news, Director Kenneth D. Denman sold 300 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $355.69, for a total transaction of $106,707.00. Following the transaction, the director now owns 4,433 shares in the company, valued at $1,576,773.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $342.72, for a total value of $1,370,880.00. Following the transaction, the executive vice president now owns 49,402 shares in the company, valued at approximately $16,931,053.44. The disclosure for this sale can be found here. Insiders sold 15,804 shares of company stock worth $5,460,267 in the last 90 days. Company insiders own 0.22% of the company’s stock.
Costco Wholesale Company 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.
Read More: Understanding the two types of arbitrage
Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.