Vestor Capital LLC Decreases Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Vestor Capital LLC lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 23.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 637 shares of the retailer’s stock after selling 200 shares during the period. Vestor Capital LLC’s holdings in Costco Wholesale were worth $168,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. bought a new position in Costco Wholesale in the 1st quarter valued at $26,000. Massey Quick Simon & CO. LLC bought a new position in Costco Wholesale in the 2nd quarter valued at $27,000. Thor Advisors LLC bought a new position in Costco Wholesale in the 1st quarter valued at $35,000. C J Advisory Inc bought a new position in Costco Wholesale in the 1st quarter valued at $36,000. Finally, JNBA Financial Advisors grew its position in Costco Wholesale by 484.6% in the 1st quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock valued at $37,000 after acquiring an additional 126 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

In related news, VP Patrick J. Callans sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $252.15, for a total transaction of $504,300.00. Following the sale, the vice president now owns 66,479 shares of the company’s stock, valued at $16,762,679.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan L. Decker sold 1,646 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total value of $441,539.50. Following the sale, the director now directly owns 41,803 shares in the company, valued at approximately $11,213,654.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,136 shares of company stock worth $7,380,374. 0.21% of the stock is owned by corporate insiders.

COST has been the topic of several research analyst reports. Robert W. Baird upped their price objective on Costco Wholesale from $270.00 to $290.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Loop Capital upped their price objective on Costco Wholesale to $300.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. They noted that the move was a valuation call. Oppenheimer upped their price objective on Costco Wholesale from $270.00 to $295.00 in a research report on Wednesday, July 10th. BidaskClub raised Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 17th. Finally, Wells Fargo & Co upped their price objective on Costco Wholesale from $225.00 to $240.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $266.04.

Shares of COST traded down $5.61 during midday trading on Friday, reaching $274.31. 826,240 shares of the stock were exchanged, compared to its average volume of 1,812,618. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week high of $284.31. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $275.67 and its two-hundred day moving average is $248.93. The company has a market capitalization of $122.11 billion, a P/E ratio of 40.16, a PEG ratio of 3.83 and a beta of 0.95.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.06. Costco Wholesale had a return on equity of 25.03% and a net margin of 2.41%. The business had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. During the same quarter in the prior year, the company earned $1.70 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts expect that Costco Wholesale Co. will post 8.04 EPS for the current year.

Costco Wholesale announced that its Board of Directors has authorized a share repurchase plan on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to buy up to 3.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, August 29th. Costco Wholesale’s payout ratio is currently 38.07%.

About Costco Wholesale

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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