Rempart Asset Management Inc. Trims Holdings in Costco Wholesale Corporation $COST

Key Points

• Rempart Asset Management Inc. reduced its holdings in Costco Wholesale Corporation by 3.5%, now owning 32,817 shares worth approximately $32.5 million, making it the firm's second largest investment.
• Costco reported an earnings per share (EPS) of $5.87 for the last quarter, exceeding analysts' expectations, with revenues rising 8.1% year-over-year.
• The company recently declared a quarterly dividend of $1.30 per share, translating to an annualized dividend yield of 0.6%.

Rempart Asset Management Inc. lessened its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,817 shares of the retailer's stock after selling 1,178 shares during the quarter. Costco Wholesale accounts for 6.2% of Rempart Asset Management Inc.'s investment portfolio, making the stock its 2nd biggest position. Rempart Asset Management Inc.'s holdings in Costco Wholesale were worth $32,487,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COST. Bulwark Capital Corp purchased a new position in Costco Wholesale in the 2nd quarter worth approximately $25,000. Anderson Financial Strategies LLC grew its holdings 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 purchasing an additional 36 shares during the last quarter. eCIO Inc. purchased a new position in shares of Costco Wholesale in the first quarter worth $48,000. Aspect Partners LLC increased its stake in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares during the period. Finally, Ransom Advisory Ltd purchased a new stake in Costco Wholesale during the 1st quarter valued at $61,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $915.95 on Monday. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The stock's 50 day simple moving average is $955.70 and its two-hundred day simple moving average is $971.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The stock has a market cap of $406.21 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 5.15 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $86.01 billion. During the same quarter last year, the business posted $5.15 EPS. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on COST shares. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Sanford C. Bernstein increased their target price on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an "outperform" rating in a report on Friday. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Evercore ISI lowered their price target 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. Finally, Oppenheimer reiterated an "outperform" rating and issued a $1,130.00 price objective on shares of Costco Wholesale in a report on Friday. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,069.58.

Insider Transactions at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president directly owned 5,774 shares of the company's stock, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

About Costco Wholesale

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.