Connor Clark & Lunn Investment Management Ltd. lowered its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 68.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,249 shares of the retailer's stock after selling 35,292 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Costco Wholesale were worth $15,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. Peninsula Wealth LLC raised its position in Costco Wholesale by 1.2% in the 4th quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock valued at $749,000 after purchasing an additional 10 shares in the last quarter. Bosun Asset Management LLC raised its position in Costco Wholesale by 1.6% in the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock valued at $583,000 after purchasing an additional 10 shares in the last quarter. Corps Capital Advisors LLC raised its position in Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after purchasing an additional 10 shares in the last quarter. Coppell Advisory Solutions LLC raised its position in Costco Wholesale by 0.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock valued at $3,163,000 after purchasing an additional 11 shares in the last quarter. Finally, Rooted Wealth Advisors Inc. raised its position in Costco Wholesale by 2.6% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock valued at $404,000 after purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.
Costco Wholesale Trading Up 0.4%
Shares of COST stock opened at $980.98 on Monday. The business's 50 day moving average is $977.93 and its two-hundred day moving average is $985.43. Costco Wholesale Corporation has a twelve month low of $837.63 and a twelve month high of $1,078.23. The company has a market capitalization of $435.05 billion, a P/E ratio of 55.64, a price-to-earnings-growth ratio of 6.10 and a beta of 0.96. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.
Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company's revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $3.78 EPS. Equities analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.
Costco Wholesale Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on COST shares. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a report on Thursday, May 29th. JPMorgan Chase & Co. increased their price objective on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, August 4th. Finally, Evercore ISI dropped their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.
Get Our Latest Research Report on COST
Insiders Place Their Bets
In other news, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the sale, the director directly owned 11,531 shares of the company's stock, valued at $11,300,380. This trade represents a 4.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president directly owned 58,543 shares of the company's stock, valued at $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock valued at $9,472,510 over the last 90 days. 0.18% of the stock is owned by corporate insiders.
About Costco Wholesale
(
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.
Further Reading
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