Benin Management CORP Reduces Holdings in Costco Wholesale Corporation $COST

Key Points

• Benin Management CORP reduced its stake in Costco Wholesale Corporation by 5.3%, now holding 5,310 shares worth approximately $5.26 million, making it the 14th largest position in their portfolio.
• Costco recently declared a quarterly dividend of $1.30 per share, with an upcoming payment date on November 14th and an annualized dividend yield of 0.6%.
• Costco's shares opened at $937.50, with a 52-week range between $867.34 and $1,078.23, and reported a quarterly revenue of $86.16 billion, an 8.1% year-over-year increase.

Benin Management CORP trimmed its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,310 shares of the retailer's stock after selling 300 shares during the quarter. Costco Wholesale makes up approximately 1.4% of Benin Management CORP's investment portfolio, making the stock its 14th largest position. Benin Management CORP's holdings in Costco Wholesale were worth $5,257,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in COST. Bulwark Capital Corp purchased a new stake in shares of Costco Wholesale during the second quarter worth approximately $25,000. Anderson Financial Strategies LLC increased its position in shares of Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after purchasing an additional 36 shares in the last quarter. Financial Connections Group Inc. boosted its stake in Costco Wholesale by 975.0% during the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer's stock worth $42,000 after buying an additional 39 shares during the last quarter. Frazier Financial Advisors LLC boosted its stake in Costco Wholesale by 72.0% during the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer's stock worth $43,000 after buying an additional 18 shares during the last quarter. Finally, eCIO Inc. acquired a new position in Costco Wholesale during the first quarter worth $48,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $915.00, for a total value of $3,093,615.00. Following the transaction, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. The trade was a 25.77% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $937.50 on Wednesday. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The business's fifty day simple moving average is $947.38 and its 200-day simple moving average is $971.46. The firm has a market cap of $415.48 billion, a PE ratio of 51.48, a price-to-earnings-growth ratio of 5.68 and a beta of 0.98. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same quarter in the prior year, the company posted $5.15 EPS. The company's quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale's dividend payout ratio is 28.56%.

Analysts Set New Price Targets

COST has been the topic of a number of recent research reports. Sanford C. Bernstein boosted their price objective on Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. BTIG Research initiated coverage on Costco Wholesale in a research note on Tuesday, October 14th. They set a "buy" rating and a $1,115.00 price objective on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. DA Davidson reissued a "neutral" rating and set a $1,000.00 price objective on shares of Costco Wholesale in a research note on Friday, September 26th. Finally, Citigroup lowered their price objective on Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating on the stock in a research note on Monday, September 29th. Nineteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,068.15.

Costco Wholesale Company Profile

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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