Costco Wholesale Co. (NASDAQ:COST) Stock Holdings Lessened by Cumberland Partners Ltd

Cumberland Partners Ltd reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,732 shares of the retailer’s stock after selling 1,198 shares during the quarter. Costco Wholesale accounts for 2.9% of Cumberland Partners Ltd’s investment portfolio, making the stock its 8th biggest holding. Cumberland Partners Ltd’s holdings in Costco Wholesale were worth $42,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Financial Connections Group Inc. lifted its stake in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Bank & Trust Co acquired a new stake in shares of Costco Wholesale in the 2nd quarter worth $48,000. Ruedi Wealth Management Inc. lifted its stake in shares of Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Costco Wholesale in the 2nd quarter worth $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Costco Wholesale in the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Down 0.2 %

Shares of COST traded down $1.72 during mid-day trading on Tuesday, hitting $931.16. The company had a trading volume of 175,312 shares, compared to its average volume of 1,922,669. The business’s 50-day simple moving average is $894.30 and its 200-day simple moving average is $854.01. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a 1-year low of $572.24 and a 1-year high of $962.00. The stock has a market cap of $412.57 billion, a PE ratio of 56.30, a P/E/G ratio of 5.81 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $4.86 earnings per share. Sell-side analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $1.16 per share. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.50%. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on COST shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Barclays increased their price target on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. BMO Capital Markets reiterated an “outperform” rating and issued a $980.00 price target (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Oppenheimer increased their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company increased their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $905.30.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,136 shares of company stock valued at $10,806,570 over the last ninety days. 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.