Costco Wholesale Corporation $COST Shares Sold by North Point Portfolio Managers Corp OH

Key Points

• North Point Portfolio Managers Corp OH reduced its holdings in Costco Wholesale Corp by 1.4%, now owning 26,404 shares, which represents 4.5% of their portfolio.
• Costco reported $5.87 EPS for the most recent quarter, exceeding analyst expectations and marking an increase from $5.15 EPS in the same period last year.
• The company will pay a quarterly dividend of $1.30 on November 14, reflecting an annualized yield of 0.6% based on current stock prices.

North Point Portfolio Managers Corp OH decreased its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,404 shares of the retailer's stock after selling 368 shares during the quarter. Costco Wholesale comprises approximately 4.5% of North Point Portfolio Managers Corp OH's portfolio, making the stock its 2nd biggest holding. North Point Portfolio Managers Corp OH's holdings in Costco Wholesale were worth $26,138,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bulwark Capital Corp purchased a new position in Costco Wholesale in the second quarter worth $25,000. Anderson Financial Strategies LLC increased its position 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 valued at $38,000 after buying an additional 36 shares in the last quarter. Financial Connections Group Inc. increased its position 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 valued at $42,000 after buying an additional 39 shares in the last quarter. Frazier Financial Advisors LLC increased its position in shares of Costco Wholesale by 72.0% in the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer's stock valued at $43,000 after buying an additional 18 shares in the last quarter. Finally, eCIO Inc. purchased a new position in shares of Costco Wholesale in the first quarter valued at $48,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Costco Wholesale in a research report on Thursday, September 18th. They issued a "peer perform" rating for the company. Argus raised their price target on Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a "buy" rating in a research report on Monday, September 29th. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Truist Financial dropped their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating for the company in a research report on Friday, September 26th. Finally, Evercore ISI dropped their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a research report on Friday, September 26th. Nineteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.15.

Costco Wholesale Stock Up 1.2%

Shares of NASDAQ:COST opened at $936.33 on Monday. The stock's 50-day moving average price is $949.51 and its two-hundred day moving average price is $971.56. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23. The firm has a market cap of $414.96 billion, a price-to-earnings ratio of 51.42, a PEG ratio of 5.68 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.81 by $0.06. The firm had revenue of $86.16 billion for 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 firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the company earned $5.15 EPS. On average, research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed 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 payout ratio is currently 28.56%.

Insider Activity

In other news, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale 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 of the company's stock, valued at $8,912,100. The trade was a 25.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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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