Northeast Investment Management Reduces Stake in Costco Wholesale Corporation $COST

Key Points

• Northeast Investment Management reduced its stake in Costco Wholesale Corporation by 1.2%, selling 1,098 shares during the second quarter, which left them with 93,358 shares.
• Several analysts have given Costco a consensus rating of "Moderate Buy" with a current price target of $1,068.15, reflecting varying price objectives from different research firms.
• Costco will pay a quarterly dividend of $1.30 on November 14th, with a dividend yield of 0.6%, showcasing a commitment to returning value to shareholders.

Northeast Investment Management lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,358 shares of the retailer's stock after selling 1,098 shares during the period. Costco Wholesale comprises approximately 3.9% of Northeast Investment Management's investment portfolio, making the stock its 6th largest holding. Northeast Investment Management's holdings in Costco Wholesale were worth $92,419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Corps Capital Advisors LLC raised its holdings in Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after acquiring an additional 10 shares in the last quarter. Covestor Ltd raised its holdings in Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after acquiring an additional 10 shares in the last quarter. MOKAN Wealth Management Inc. raised its holdings in Costco Wholesale by 0.4% during the first quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer's stock worth $2,499,000 after acquiring an additional 11 shares in the last quarter. Aspect Partners LLC raised its holdings in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares in the last quarter. Finally, Viewpoint Capital Management LLC raised its holdings in Costco Wholesale by 0.4% during the first quarter. Viewpoint Capital Management LLC now owns 2,689 shares of the retailer's stock worth $2,543,000 after acquiring an additional 11 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on COST shares. BTIG Research started coverage on Costco Wholesale in a research note on Tuesday. They issued a "buy" rating and a $1,115.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a research note on Friday, September 26th. Weiss Ratings restated a "buy (b-)" rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their price objective 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, Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Wednesday, September 24th. Nineteen equities 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.15.

Insider Activity at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 9,740 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction that occurred 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 directly owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $936.33 on Friday. Costco Wholesale Corporation has a 12 month low of $867.34 and a 12 month high of $1,078.23. The stock's 50 day moving average is $949.51 and its 200-day moving average is $971.53. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The company has a market capitalization 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 posted its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same quarter in the prior year, the business earned $5.15 earnings per share. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

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

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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