McIlrath & Eck LLC Increases Stake in Costco Wholesale Co. (NASDAQ:COST)

McIlrath & Eck LLC boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,683 shares of the retailer’s stock after purchasing an additional 235 shares during the period. Costco Wholesale comprises 0.4% of McIlrath & Eck LLC’s investment portfolio, making the stock its 13th largest position. McIlrath & Eck LLC’s holdings in Costco Wholesale were worth $773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in COST. Great Valley Advisor Group Inc. bought a new stake in shares of Costco Wholesale during the second quarter valued at approximately $470,000. Beese Fulmer Investment Management Inc. bought a new stake in Costco Wholesale in the second quarter worth $4,462,000. Aperio Group LLC boosted its holdings in Costco Wholesale by 0.4% in the second quarter. Aperio Group LLC now owns 357,259 shares of the retailer’s stock worth $94,409,000 after acquiring an additional 1,421 shares in the last quarter. HCR Wealth Advisors boosted its holdings in Costco Wholesale by 15.1% in the second quarter. HCR Wealth Advisors now owns 11,654 shares of the retailer’s stock worth $3,080,000 after acquiring an additional 1,526 shares in the last quarter. Finally, CKW Financial Group boosted its holdings in Costco Wholesale by 33.1% in the second quarter. CKW Financial Group now owns 804 shares of the retailer’s stock worth $212,000 after acquiring an additional 200 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on COST shares. Raymond James boosted their target price on Costco Wholesale from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Bank of America boosted their target price on Costco Wholesale from $310.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Northcoast Research downgraded Costco Wholesale from a “buy” rating to a “neutral” rating in a report on Wednesday, October 16th. Loop Capital boosted their target price on Costco Wholesale to $330.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Wells Fargo & Co boosted their target price on Costco Wholesale from $240.00 to $290.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and an average target price of $295.57.

In other news, VP Paul G. Moulton sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $303.05, for a total value of $1,205,532.90. Following the completion of the sale, the vice president now directly owns 29,565 shares of the company’s stock, valued at approximately $8,959,673.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 333 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $297.50, for a total value of $99,067.50. Following the completion of the sale, the director now directly owns 41,470 shares of the company’s stock, valued at $12,337,325. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,093 shares of company stock valued at $9,915,511. 0.21% of the stock is owned by corporate insiders.

Shares of NASDAQ:COST traded down $2.59 during midday trading on Friday, reaching $302.62. 1,501,500 shares of the company’s stock traded hands, compared to its average volume of 1,980,943. The stock has a 50 day moving average of $294.80 and a 200 day moving average of $273.79. Costco Wholesale Co. has a one year low of $189.51 and a one year high of $307.34. The company has a market cap of $131.54 billion, a price-to-earnings ratio of 36.95, a P/E/G ratio of 4.09 and a beta of 0.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 1.01.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 3rd. The retailer reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.15. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The company had revenue of $47.50 billion during the quarter, compared to analyst estimates of $47.71 billion. During the same period in the prior year, the company earned $2.36 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts predict that Costco Wholesale Co. will post 8.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, October 31st. Costco Wholesale’s payout ratio is presently 31.75%.

About Costco Wholesale

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.

Further Reading: What does EPS mean?

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

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