Utah Retirement Systems Grows Stake in Costco Wholesale Co. (COST)

Utah Retirement Systems increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,301 shares of the retailer’s stock after buying an additional 400 shares during the quarter. Utah Retirement Systems’ holdings in Costco Wholesale were worth $19,096,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Lee Financial Co grew its stake in shares of Costco Wholesale by 63.7% in the third quarter. Lee Financial Co now owns 555 shares of the retailer’s stock valued at $130,000 after buying an additional 216 shares in the last quarter. Joel Isaacson & Co. LLC grew its stake in shares of Costco Wholesale by 14.0% in the third quarter. Joel Isaacson & Co. LLC now owns 1,787 shares of the retailer’s stock valued at $420,000 after buying an additional 220 shares in the last quarter. Telemus Capital LLC grew its stake in shares of Costco Wholesale by 6.8% in the third quarter. Telemus Capital LLC now owns 3,499 shares of the retailer’s stock valued at $822,000 after buying an additional 224 shares in the last quarter. Cypress Capital Management LLC WY grew its stake in shares of Costco Wholesale by 8.0% in the second quarter. Cypress Capital Management LLC WY now owns 3,055 shares of the retailer’s stock valued at $638,000 after buying an additional 225 shares in the last quarter. Finally, Northstar Asset Management LLC grew its stake in shares of Costco Wholesale by 16.6% in the third quarter. Northstar Asset Management LLC now owns 1,586 shares of the retailer’s stock valued at $373,000 after buying an additional 226 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 price objective for the company in a research note on Tuesday, September 11th. Raymond James raised their price objective on Costco Wholesale from $225.00 to $252.00 and gave the company an “outperform” rating in a research note on Monday, September 10th. BMO Capital Markets set a $260.00 price objective on Costco Wholesale and gave the company a “buy” rating in a research note on Monday, September 10th. Wells Fargo & Co lowered Costco Wholesale from an “outperform” rating to a “market perform” rating and set a $235.00 price objective for the company. in a research note on Friday, September 14th. Finally, Stifel Nicolaus raised their price objective on Costco Wholesale from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Costco Wholesale currently has a consensus rating of “Buy” and a consensus target price of $236.85.

In related news, insider W Craig Jelinek sold 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $223.52, for a total value of $5,029,200.00. Following the sale, the insider now owns 322,958 shares of the company’s stock, valued at approximately $72,187,572.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $235.81, for a total value of $707,430.00. Following the completion of the sale, the director now directly owns 8,654 shares in the company, valued at approximately $2,040,699.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,312 shares of company stock valued at $13,847,852. Insiders own 0.58% of the company’s stock.

Shares of COST traded down $5.73 during mid-day trading on Wednesday, hitting $226.35. The stock had a trading volume of 3,387,916 shares, compared to its average volume of 2,159,473. The firm has a market cap of $101.35 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.96 and a beta of 0.90. The company has a current ratio of 1.02, a quick ratio of 0.46 and a debt-to-equity ratio of 0.50. Costco Wholesale Co. has a fifty-two week low of $175.79 and a fifty-two week high of $245.16.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, topping the consensus estimate of $2.34 by $0.02. The company had revenue of $44.41 billion during the quarter, compared to analyst estimates of $44.17 billion. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 EPS. On average, sell-side analysts predict that Costco Wholesale Co. will post 7.71 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Stockholders of record on Friday, November 9th were given a $0.57 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. Costco Wholesale’s payout ratio is 33.38%.

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Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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