Becker Capital Management Inc. Trims Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Becker Capital Management Inc. cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.4% in the third quarter, HoldingsChannel reports. The fund owned 26,010 shares of the retailer’s stock after selling 98 shares during the period. Becker Capital Management Inc.’s holdings in Costco Wholesale were worth $11,688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Baillie Gifford & Co. bought a new position in Costco Wholesale in the 2nd quarter worth approximately $31,000. KB Financial Partners LLC purchased a new stake in Costco Wholesale during the 1st quarter valued at $35,000. West Financial Advisors LLC raised its holdings in Costco Wholesale by 100.0% during the 2nd quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock valued at $40,000 after buying an additional 50 shares during the period. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Costco Wholesale in the second quarter worth $35,000. Finally, PNC Managed Account Solutions Inc. purchased a new stake in Costco Wholesale in the second quarter worth $42,000. Institutional investors own 66.87% of the company’s stock.

COST has been the topic of a number of recent research reports. Evercore ISI raised their price objective on Costco Wholesale from $480.00 to $525.00 and gave the company an “outperform” rating in a research report on Thursday, November 4th. DA Davidson lifted their price target on Costco Wholesale from $390.00 to $423.00 and gave the company a “neutral” rating in a research report on Friday, September 24th. Credit Suisse Group boosted their price objective on Costco Wholesale from $400.00 to $490.00 and gave the company a “neutral” rating in a research report on Monday, September 27th. JPMorgan Chase & Co. boosted their price objective on Costco Wholesale from $500.00 to $552.00 and gave the company an “overweight” rating in a research report on Thursday, November 4th. Finally, Stifel Nicolaus boosted their price objective on Costco Wholesale from $475.00 to $515.00 and gave the company a “buy” rating in a research report on Monday, November 1st. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $496.23.

COST traded up $4.47 during trading on Thursday, reaching $549.73. The stock had a trading volume of 2,315,610 shares, compared to its average volume of 2,180,508. The firm has a market capitalization of $242.88 billion, a price-to-earnings ratio of 48.78, a price-to-earnings-growth ratio of 5.08 and a beta of 0.65. The company has a quick ratio of 0.52, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. Costco Wholesale Co. has a 1-year low of $307.00 and a 1-year high of $550.83. The stock has a 50 day moving average of $481.58 and a two-hundred day moving average of $438.24.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Wednesday, September 22nd. The retailer reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.33. Costco Wholesale had a net margin of 2.56% and a return on equity of 29.62%. The company had revenue of $61.44 billion for the quarter, compared to the consensus estimate of $61.45 billion. During the same period in the previous year, the business earned $3.13 EPS. The company’s revenue was up 17.5% on a year-over-year basis. On average, research analysts forecast that Costco Wholesale Co. will post 12.15 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Friday, October 29th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, October 28th. Costco Wholesale’s dividend payout ratio is presently 28.04%.

About Costco Wholesale

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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