Manchester Financial Inc. cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,132 shares of the retailer’s stock after selling 182 shares during the quarter. Costco Wholesale accounts for about 2.5% of Manchester Financial Inc.’s portfolio, making the stock its 9th largest holding. Manchester Financial Inc.’s holdings in Costco Wholesale were worth $3,242,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. O Shares Investment Advisers LLC purchased a new position in Costco Wholesale during the 2nd quarter worth approximately $4,418,000. Burns J W & Co. Inc. NY raised its position in Costco Wholesale by 4.8% during the 2nd quarter. Burns J W & Co. Inc. NY now owns 11,274 shares of the retailer’s stock worth $3,418,000 after buying an additional 513 shares during the last quarter. Colony Group LLC raised its position in Costco Wholesale by 14.3% during the 1st quarter. Colony Group LLC now owns 17,271 shares of the retailer’s stock worth $4,925,000 after buying an additional 2,158 shares during the last quarter. Oak Grove Capital LLC raised its position in Costco Wholesale by 155.9% during the 2nd quarter. Oak Grove Capital LLC now owns 36,045 shares of the retailer’s stock worth $10,929,000 after buying an additional 21,958 shares during the last quarter. Finally, Clarius Group LLC grew its stake in shares of Costco Wholesale by 5.0% during the 2nd quarter. Clarius Group LLC now owns 8,477 shares of the retailer’s stock worth $2,570,000 after purchasing an additional 406 shares during the period. 68.20% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of Costco Wholesale from a “sell” rating to a “hold” rating in a research note on Thursday, September 24th. Loop Capital raised their price objective on shares of Costco Wholesale from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Thursday, October 8th. They noted that the move was a valuation call. Barclays raised shares of Costco Wholesale from an “equal weight” rating to an “overweight” rating and set a $400.00 price objective on the stock in a research note on Tuesday, October 6th. Citigroup raised their price objective on shares of Costco Wholesale from $345.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Finally, BMO Capital Markets lifted their price target on shares of Costco Wholesale from $340.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, September 25th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Costco Wholesale presently has an average rating of “Buy” and a consensus price target of $368.54.
Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 24th. The retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. Costco Wholesale had a return on equity of 22.71% and a net margin of 2.40%. The business had revenue of $52.28 billion for the quarter, compared to analyst estimates of $52.03 billion. During the same quarter in the previous year, the firm earned $2.69 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts expect that Costco Wholesale Co. will post 9.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, October 29th. This represents a $2.80 annualized dividend and a yield of 0.73%. Costco Wholesale’s dividend payout ratio (DPR) is currently 31.64%.
In related news, EVP James C. Klauer sold 4,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $342.72, for a total value of $1,370,880.00. Following the sale, the executive vice president now directly owns 49,402 shares in the company, valued at approximately $16,931,053.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth D. Denman sold 300 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $355.69, for a total transaction of $106,707.00. Following the completion of the sale, the director now owns 4,433 shares in the company, valued at $1,576,773.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,804 shares of company stock worth $5,460,267. 0.22% of the stock is owned by insiders.
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.
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