Costco Wholesale Corporation $COST Shares Acquired by Cardinal Point Capital Management ULC

Key Points

• Cardinal Point Capital Management ULC increased its stake in Costco by 1,665.3% during the second quarter, now owning 7,732 shares valued at approximately $7.65 million.
• Costco reported earnings of $5.87 per share for the last quarter, surpassing estimates and showing an 8.1% year-over-year revenue growth to $86.16 billion.
• The company declared a quarterly dividend of $1.30 per share, payable to shareholders on November 14th, reflecting a yield of 0.6% and a payout ratio of 28.56%.

Cardinal Point Capital Management ULC lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1,665.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,732 shares of the retailer's stock after purchasing an additional 7,294 shares during the period. Cardinal Point Capital Management ULC's holdings in Costco Wholesale were worth $7,654,000 as of its most recent SEC filing.

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

Costco Wholesale Stock Performance

NASDAQ COST opened at $942.05 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23. The company has a market capitalization of $417.50 billion, a PE ratio of 51.73, a P/E/G ratio of 5.73 and a beta of 0.98. The company has a fifty day moving average of $946.03 and a two-hundred day moving average of $971.51.

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

Costco Wholesale Announces Dividend

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

Analyst Ratings Changes

COST has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a "buy" rating on shares of Costco Wholesale in a research note on Thursday, October 9th. Citigroup lowered their target price on shares of Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating for the company in a research note on Monday, September 29th. Wolfe Research initiated coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They set a "peer perform" rating for the company. BTIG Research initiated coverage on shares of Costco Wholesale in a research note on Tuesday, October 14th. They set a "buy" rating and a $1,115.00 target price for the company. Finally, Evercore ISI lowered their target price on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a research note on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.15.

Insider Activity

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the company's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction 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. This represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% 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 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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