Johnson Investment Counsel Inc. Has $84.35 Million Stock Position in Costco Wholesale Corporation $COST

Key Points

• Johnson Investment Counsel Inc. reduced its stake in Costco Wholesale Corporation by 0.4%, ending the second quarter with 85,210 shares valued at $84.35 million.
• Costco reported $5.87 earnings per share (EPS) for the quarter, surpassing analysts' estimates and demonstrating an 8.1% year-over-year revenue increase.
• Insiders sold 7,981 shares of Costco stock last quarter, with a notable sale by EVP Russell D. Miller who decreased his position by 25.77% after selling 3,381 shares.

Johnson Investment Counsel Inc. reduced its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,210 shares of the retailer's stock after selling 371 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Costco Wholesale were worth $84,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Corps Capital Advisors LLC lifted its stake in Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after buying an additional 10 shares during the period. Covestor Ltd lifted its stake in Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock valued at $119,000 after buying an additional 10 shares during the period. Western Pacific Wealth Management LP lifted its stake in Costco Wholesale by 0.5% in the first quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer's stock valued at $1,925,000 after buying an additional 11 shares during the period. MOKAN Wealth Management Inc. lifted its stake in Costco Wholesale by 0.4% in the first quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer's stock valued at $2,499,000 after buying an additional 11 shares during the period. Finally, Aspect Partners LLC lifted its stake in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the company's 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 transaction, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction on 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 owned 2,362 shares of the company's stock, valued at $2,343,222.10. This trade represents a 20.26% 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 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Down 1.4%

Shares of NASDAQ:COST opened at $930.01 on Friday. The company has a market capitalization of $412.16 billion, a PE ratio of 51.07, a price-to-earnings-growth ratio of 5.64 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The business has a fifty day moving average price of $952.05 and a two-hundred day moving average price of $971.77. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business'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 EPS. Analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley decreased their price objective on Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating for the company in a report on Friday, September 26th. JPMorgan Chase & Co. decreased their price objective on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating for the company in a report on Friday, September 26th. Citigroup decreased their price objective on Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating for the company in a report on Monday, September 29th. Argus boosted their price objective on Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a "buy" rating in a report on Monday, September 29th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Wednesday, September 24th. Nineteen 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 currently has a consensus rating of "Moderate Buy" and an average price target of $1,066.23.

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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