Costco Wholesale Co. (NASDAQ:COST) Holdings Lowered by Benin Management CORP

Benin Management CORP lowered its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,502 shares of the retailer’s stock after selling 231 shares during the quarter. Costco Wholesale makes up 1.7% of Benin Management CORP’s portfolio, making the stock its 9th biggest holding. Benin Management CORP’s holdings in Costco Wholesale were worth $5,527,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oak Asset Management LLC increased its stake in Costco Wholesale by 0.3% in the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares during the period. Peddock Capital Advisors LLC raised its stake in Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after acquiring an additional 12 shares during the last quarter. Bedel Financial Consulting Inc. grew its stake in shares of Costco Wholesale by 1.3% in the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock valued at $729,000 after purchasing an additional 13 shares during the last quarter. Boltwood Capital Management increased its holdings in shares of Costco Wholesale by 1.7% in the second quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock valued at $671,000 after purchasing an additional 13 shares during the period. Finally, LifePro Asset Management raised its stake in shares of Costco Wholesale by 3.8% during the second quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock worth $304,000 after purchasing an additional 13 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 0.4 %

NASDAQ COST traded down $3.57 on Thursday, reaching $877.85. The company had a trading volume of 740,217 shares, compared to its average volume of 1,967,017. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 1 year low of $530.56 and a 1 year high of $896.67. The firm has a 50-day moving average of $850.13 and a 200-day moving average of $786.19. The firm has a market capitalization of $389.18 billion, a PE ratio of 54.65, a P/E/G ratio of 5.79 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.08. The business had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.43 earnings per share. On average, equities research analysts anticipate that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. Costco Wholesale’s payout ratio is 28.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on COST shares. Barclays upped their price objective on shares of Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Oppenheimer dropped their target price on Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Roth Mkm reaffirmed a “neutral” rating and set a $676.00 price objective (up previously from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Sunday, June 2nd. Finally, Citigroup boosted their price objective on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $824.50.

Insider Buying and Selling

In other news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the transaction, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,970 shares of company stock worth $4,249,526. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale 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.