Mizuho Securities USA LLC Trims Stake in Costco Wholesale Co. (NASDAQ:COST)

Mizuho Securities USA LLC reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 15.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 28,748 shares of the retailer’s stock after selling 5,447 shares during the period. Costco Wholesale accounts for about 0.5% of Mizuho Securities USA LLC’s holdings, making the stock its 23rd biggest holding. Mizuho Securities USA LLC’s holdings in Costco Wholesale were worth $25,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in COST. Integrated Investment Consultants LLC raised its stake in Costco Wholesale by 17.8% during the 3rd quarter. Integrated Investment Consultants LLC now owns 1,184 shares of the retailer’s stock valued at $1,049,000 after acquiring an additional 179 shares during the last quarter. Tradewinds LLC. increased its position in Costco Wholesale by 3.3% during the 3rd quarter. Tradewinds LLC. now owns 969 shares of the retailer’s stock worth $859,000 after purchasing an additional 31 shares during the period. German American Bancorp Inc. increased its position in Costco Wholesale by 6.1% during the 3rd quarter. German American Bancorp Inc. now owns 13,626 shares of the retailer’s stock worth $12,080,000 after purchasing an additional 782 shares during the period. Trustmark National Bank Trust Department increased its position in Costco Wholesale by 21.1% during the 3rd quarter. Trustmark National Bank Trust Department now owns 4,829 shares of the retailer’s stock worth $4,281,000 after purchasing an additional 843 shares during the period. Finally, Cypress Capital Group increased its position in Costco Wholesale by 1.5% during the 3rd quarter. Cypress Capital Group now owns 8,515 shares of the retailer’s stock worth $7,549,000 after purchasing an additional 129 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 0.2 %

Shares of COST opened at $928.08 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $411.20 billion, a P/E ratio of 56.01, a price-to-earnings-growth ratio of 5.74 and a beta of 0.80. The stock’s fifty day simple moving average is $899.35 and its 200 day simple moving average is $862.71. Costco Wholesale Co. has a twelve month low of $577.71 and a twelve month high of $962.00.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $4.86 EPS. On average, equities research analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share 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 given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Analyst Ratings Changes

COST has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on Costco Wholesale from $980.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Monday. Barclays boosted their target price on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Sanford C. Bernstein assumed coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 target price on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a report on Monday, November 4th. Finally, Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target on the stock. in a report on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $908.81.

Insider Buying and Selling

In related news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This represents a 4.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is currently owned by company insiders.

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.