Costco Wholesale Corporation $COST Position Cut by Shikiar Asset Management Inc.

Key Points

• Shikiar Asset Management Inc. reduced its stake in Costco Wholesale Corporation by 32.1% during the second quarter, holding 1,197 shares valued at $1,185,000.
• Costco recently reported $5.87 earnings per share, exceeding analysts' expectations, with a total revenue of $86.16 billion for the quarter, reflecting an 8.1% year-over-year increase.
• The company has a dividend yield of 0.6% with a recently declared quarterly dividend of $1.30, contributing to a 28.56% dividend payout ratio.

Shikiar Asset Management Inc. trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 32.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,197 shares of the retailer's stock after selling 565 shares during the quarter. Shikiar Asset Management Inc.'s holdings in Costco Wholesale were worth $1,185,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COST. Bulwark Capital Corp bought a new position in Costco Wholesale during the 2nd quarter valued at $25,000. Anderson Financial Strategies LLC boosted its stake in Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after purchasing an additional 36 shares in the last quarter. eCIO Inc. bought a new position in Costco Wholesale during the 1st quarter valued at $48,000. Aspect Partners LLC boosted its stake in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new position in Costco Wholesale during the 1st quarter valued at $61,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $930.01 on Friday. Costco Wholesale Corporation has a one year low of $867.34 and a one year high of $1,078.23. The stock has a fifty day moving average of $952.05 and a 200-day moving average of $971.48. The company has a market capitalization of $412.16 billion, a PE ratio of 51.07, a price-to-earnings-growth ratio of 5.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

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

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio is presently 28.56%.

Insider Activity

In other news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction on 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 completion of the sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,981 shares of company stock worth $7,588,685 over the last quarter. Corporate insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Sanford C. Bernstein increased their price target on Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Argus increased their price target on Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a "buy" rating in a research note on Monday, September 29th. Oppenheimer reaffirmed an "outperform" rating and set a $1,130.00 price target on shares of Costco Wholesale in a research note on Friday, September 26th. The Goldman Sachs Group increased their price target on Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Finally, Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Nineteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,066.23.

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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