Mengis Capital Management Inc. Sells 53 Shares of Costco Wholesale Co. (NASDAQ:COST)

Mengis Capital Management Inc. lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 0.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 25,879 shares of the retailer’s stock after selling 53 shares during the period. Costco Wholesale comprises approximately 3.0% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 4th biggest position. Mengis Capital Management Inc.’s holdings in Costco Wholesale were worth $14,621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of COST. State Street Corp increased its stake in shares of Costco Wholesale by 1.8% in the second quarter. State Street Corp now owns 19,108,655 shares of the retailer’s stock worth $10,287,718,000 after purchasing an additional 333,308 shares during the period. Morgan Stanley increased its position in Costco Wholesale by 18.0% during the fourth quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock worth $3,941,708,000 after acquiring an additional 1,315,174 shares during the period. Geode Capital Management LLC raised its stake in Costco Wholesale by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 8,430,277 shares of the retailer’s stock valued at $4,525,419,000 after purchasing an additional 219,892 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Costco Wholesale by 118,320.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock valued at $3,376,513,000 after purchasing an additional 7,390,278 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Costco Wholesale by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,851,678 shares of the retailer’s stock worth $3,150,426,000 after purchasing an additional 256,155 shares during the last quarter. Institutional investors and hedge funds own 66.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Northcoast Research cut Costco Wholesale from a “buy” rating to a “neutral” rating and set a $620.00 price objective on the stock. in a research report on Wednesday, December 20th. Evercore ISI raised their price objective on shares of Costco Wholesale from $640.00 to $650.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Truist Financial upped their target price on shares of Costco Wholesale from $693.00 to $741.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Wells Fargo & Company lifted their price objective on Costco Wholesale from $610.00 to $675.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Citigroup increased their price objective on Costco Wholesale from $585.00 to $630.00 and gave the stock a “neutral” rating in a research note on Friday, December 15th. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $659.96.

Check Out Our Latest Report on COST

Costco Wholesale Stock Down 0.1 %

Shares of COST traded down $0.99 on Monday, hitting $722.41. The company’s stock had a trading volume of 1,564,408 shares, compared to its average volume of 2,050,197. The company has a quick ratio of 0.60, a current ratio of 1.09 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $320.55 billion, a price-to-earnings ratio of 49.31, a P/E/G ratio of 5.11 and a beta of 0.77. The firm’s fifty day moving average price is $669.74 and its 200-day moving average price is $599.99. Costco Wholesale Co. has a fifty-two week low of $465.33 and a fifty-two week high of $728.17.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its quarterly earnings data on Thursday, December 14th. The retailer reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.07. The business had revenue of $57.80 billion for the quarter, compared to analyst estimates of $57.79 billion. Costco Wholesale had a net margin of 2.65% and a return on equity of 27.44%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted $3.10 earnings per share. On average, equities research analysts expect that Costco Wholesale Co. will post 15.66 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Friday, February 2nd will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Thursday, February 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 27.81%.

Insider Transactions at Costco Wholesale

In related news, CFO Richard A. Galanti sold 1,112 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $680.21, for a total transaction of $756,393.52. Following the completion of the transaction, the chief financial officer now directly owns 24,300 shares of the company’s stock, valued at $16,529,103. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Caton Frates sold 740 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $683.50, for a total transaction of $505,790.00. Following the completion of the sale, the executive vice president now directly owns 6,721 shares in the company, valued at approximately $4,593,803.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard A. Galanti sold 1,112 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $680.21, for a total value of $756,393.52. Following the completion of the transaction, the chief financial officer now owns 24,300 shares of the company’s stock, valued at $16,529,103. The disclosure for this sale can be found here. Insiders sold 13,752 shares of company stock valued at $9,377,669 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Profile

(Free Report)

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.

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

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