Investment Management Corp of Ontario Boosts Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Investment Management Corp of Ontario grew its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 48.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,946 shares of the retailer’s stock after purchasing an additional 13,697 shares during the quarter. Costco Wholesale makes up about 0.8% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 17th biggest position. Investment Management Corp of Ontario’s holdings in Costco Wholesale were worth $37,186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COST. RPg Family Wealth Advisory LLC bought a new position in shares of Costco Wholesale during the 3rd quarter worth approximately $29,000. Financial Connections Group Inc. grew its position in shares of Costco Wholesale by 557.1% in 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 during the last quarter. Ruedi Wealth Management Inc. lifted its stake in Costco Wholesale by 73.5% during the second 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 acquired a new stake in shares of Costco Wholesale during the 2nd quarter valued at $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Costco Wholesale in the 3rd quarter worth about $58,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on COST shares. StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Roth Mkm boosted their target price on shares of Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research report on Friday. Stifel Nicolaus boosted their price objective on Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $908.81.

Costco Wholesale Trading Up 0.3 %

NASDAQ:COST opened at $975.00 on Tuesday. The business has a fifty day moving average of $907.62 and a 200-day moving average of $872.68. The stock has a market cap of $431.99 billion, a price-to-earnings ratio of 58.84, a PEG ratio of 6.00 and a beta of 0.82. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a 1 year low of $591.46 and a 1 year high of $976.50.

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

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.48%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Insider Activity

In related news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were 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 owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,016 shares of company stock valued at $9,826,115 in the last 90 days. Company insiders own 0.18% of the company’s stock.

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.