Kornitzer Capital Management Inc. KS Has $42.43 Million Holdings in Costco Wholesale Co. (COST)

Kornitzer Capital Management Inc. KS reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,639 shares of the retailer’s stock after selling 1,900 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Costco Wholesale were worth $42,428,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Costco Wholesale by 3.4% in the 3rd quarter. BlackRock Inc. now owns 28,041,444 shares of the retailer’s stock valued at $6,586,376,000 after purchasing an additional 919,651 shares in the last quarter. FMR LLC raised its stake in shares of Costco Wholesale by 0.5% in the 3rd quarter. FMR LLC now owns 10,618,916 shares of the retailer’s stock valued at $2,494,171,000 after purchasing an additional 48,021 shares in the last quarter. Northern Trust Corp raised its stake in shares of Costco Wholesale by 0.6% in the 2nd quarter. Northern Trust Corp now owns 6,229,389 shares of the retailer’s stock valued at $1,301,817,000 after purchasing an additional 37,778 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Costco Wholesale by 55,048.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,504,928 shares of the retailer’s stock valued at $1,292,998,000 after purchasing an additional 5,494,946 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Costco Wholesale by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 2,680,719 shares of the retailer’s stock valued at $629,647,000 after purchasing an additional 82,875 shares in the last quarter. 71.16% of the stock is owned by institutional investors.

In other Costco Wholesale news, Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $233.14, for a total value of $699,420.00. Following the sale, the director now owns 8,654 shares in the company, valued at $2,017,593.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Franz E. Lazarus sold 23,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $226.76, for a total transaction of $5,215,480.00. Following the completion of the sale, the vice president now owns 6,830 shares in the company, valued at approximately $1,548,770.80. The disclosure for this sale can be found here. Insiders sold 64,312 shares of company stock worth $14,547,272 in the last 90 days. 0.58% of the stock is owned by company insiders.

A number of equities research analysts have recently issued reports on the stock. Cowen restated a “buy” rating and issued a $240.00 target price on shares of Costco Wholesale in a research note on Friday, August 10th. Telsey Advisory Group upped their target price on shares of Costco Wholesale from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, August 7th. Loop Capital upped their target price on shares of Costco Wholesale to $250.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. BidaskClub lowered shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 15th. Finally, Barclays lowered shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and set a $240.00 target price on the stock. in a research note on Monday, September 17th. Eight equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $237.94.

COST opened at $231.28 on Monday. The stock has a market cap of $101.35 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 2.95 and a beta of 0.90. Costco Wholesale Co. has a fifty-two week low of $173.54 and a fifty-two week high of $245.16. The company has a current ratio of 1.02, a quick ratio of 0.46 and a debt-to-equity ratio of 0.50.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, beating the consensus estimate of $2.34 by $0.02. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The company had revenue of $44.41 billion for the quarter, compared to analyst estimates of $44.17 billion. During the same quarter last year, the business earned $2.08 earnings per share. Costco Wholesale’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Costco Wholesale Co. will post 7.71 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Friday, November 9th were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $2.28 annualized dividend and a dividend yield of 0.99%. Costco Wholesale’s payout ratio is currently 33.38%.

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Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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