Public Employees Retirement Association of Colorado trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.1% during the third quarter, Holdings Channel reports. The firm owned 847,142 shares of the retailer’s stock after selling 866 shares during the quarter. Costco Wholesale comprises 1.5% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 9th largest holding. Public Employees Retirement Association of Colorado’s holdings in Costco Wholesale were worth $244,070,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Neville Rodie & Shaw Inc. raised its holdings in Costco Wholesale by 0.9% in the second quarter. Neville Rodie & Shaw Inc. now owns 25,933 shares of the retailer’s stock valued at $6,853,000 after acquiring an additional 235 shares in the last quarter. Park National Corp OH grew its position in Costco Wholesale by 9.1% in the second quarter. Park National Corp OH now owns 17,900 shares of the retailer’s stock worth $4,730,000 after acquiring an additional 1,496 shares in the last quarter. Private Trust Co. NA lifted its stake in Costco Wholesale by 0.4% in the second quarter. Private Trust Co. NA now owns 11,990 shares of the retailer’s stock worth $3,168,000 after purchasing an additional 44 shares during the last quarter. Beese Fulmer Investment Management Inc. bought a new stake in shares of Costco Wholesale during the second quarter valued at approximately $4,462,000. Finally, Rockland Trust Co. raised its stake in shares of Costco Wholesale by 8.8% during the second quarter. Rockland Trust Co. now owns 1,882 shares of the retailer’s stock valued at $497,000 after acquiring an additional 152 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors.
In other news, EVP Russell D. Miller sold 1,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $302.83, for a total value of $302,830.00. Following the completion of the sale, the executive vice president now owns 1 shares of the company’s stock, valued at approximately $302.83. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan L. Decker sold 333 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $297.50, for a total transaction 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 approximately $12,337,325. The disclosure for this sale can be found here. In the last three months, insiders sold 33,093 shares of company stock valued at $9,915,511. Corporate insiders own 0.21% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, October 3rd. The retailer reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.15. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The company had revenue of $47.50 billion during the quarter, compared to analysts’ expectations of $47.71 billion. During the same quarter in the prior year, the company earned $2.36 EPS. Costco Wholesale’s revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Costco Wholesale Co. will post 8.61 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. Costco Wholesale’s dividend payout ratio (DPR) is 31.75%.
A number of brokerages recently commented on COST. Robert W. Baird set a $325.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Raymond James boosted their price objective on shares of Costco Wholesale from $260.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Oppenheimer downgraded shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $295.00 to $300.00 in a research note on Wednesday, September 11th. Wells Fargo & Co boosted their price objective on shares of Costco Wholesale from $240.00 to $290.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Finally, Nomura began coverage on shares of Costco Wholesale in a research note on Friday. They issued a “neutral” rating and a $300.00 price objective for the company. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company. Costco Wholesale presently has an average rating of “Buy” and a consensus price target of $295.57.
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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