Los Angeles Capital Management LLC Reduces Stake in Costco Wholesale Co. (NASDAQ:COST)

Los Angeles Capital Management LLC lowered its stake in Costco Wholesale Co. (NASDAQ:COST) by 27.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,446 shares of the retailer’s stock after selling 78,097 shares during the period. Costco Wholesale makes up approximately 0.7% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. Los Angeles Capital Management LLC’s holdings in Costco Wholesale were worth $179,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Costco Wholesale by 1.2% during the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after buying an additional 473,702 shares during the period. International Assets Investment Management LLC boosted its position in shares of Costco Wholesale by 113,947.9% during the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after buying an additional 7,364,453 shares during the period. Capital World Investors boosted its position in shares of Costco Wholesale by 8.1% during the first quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock valued at $2,802,147,000 after buying an additional 285,533 shares during the period. Legal & General Group Plc boosted its position in shares of Costco Wholesale by 2.5% during the second quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock valued at $3,102,941,000 after buying an additional 88,550 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Costco Wholesale by 28.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock valued at $1,307,363,000 after buying an additional 338,780 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST traded up $29.87 during trading hours on Friday, reaching $943.80. 3,277,090 shares of the company traded hands, compared to its average volume of 1,929,356. The stock has a market capitalization of $418.17 billion, a P/E ratio of 56.96, a P/E/G ratio of 5.53 and a beta of 0.80. 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 12-month low of $562.01 and a 12-month high of $962.00. The business has a fifty day moving average price of $893.49 and a 200-day moving average price of $851.63.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data 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. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the company earned $4.86 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current fiscal 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 issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.49%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $10,320,787.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the sale, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at $20,560,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan L. Decker sold 620 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,636 shares of company stock valued at $11,238,510. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COST has been the subject of several recent analyst reports. BMO Capital Markets restated an “outperform” rating and set a $980.00 target price (up previously from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Tigress Financial reiterated a “buy” rating and issued a $1,065.00 price target on shares of Costco Wholesale in a report on Thursday, October 17th. The Goldman Sachs Group boosted their price target on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Melius Research started coverage on Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $905.30.

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.