Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 8.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 13,126 shares of the retailer’s stock after selling 1,179 shares during the period. Costco Wholesale accounts for about 0.8% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 19th biggest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Costco Wholesale were worth $11,636,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Financial Connections Group Inc. boosted its stake in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Costco Wholesale in the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $50,000. Finally, Fairway Wealth LLC increased its position in shares of Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST opened at $907.07 on Friday. The firm has a market cap of $401.90 billion, a PE ratio of 54.74, a price-to-earnings-growth ratio of 5.76 and a beta of 0.80. Costco Wholesale Co. has a 52-week low of $572.24 and a 52-week high of $962.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The business’s 50 day moving average price is $897.62 and its two-hundred day moving average price is $857.72.

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

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Insider Activity

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. This represents a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now owns 10,202 shares of the company’s stock, valued at $9,091,512.30. The trade was a 30.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,016 shares of company stock worth $9,826,115 over the last three months. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on COST shares. Loop Capital increased their price objective on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and raised their price target for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft lifted 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. Sanford C. Bernstein assumed coverage on Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target for the company. Finally, Stifel Nicolaus boosted their price objective on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $905.30.

Costco Wholesale Company 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.