Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Stone Ridge Asset Management LLC

Stone Ridge Asset Management LLC reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 66.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,770 shares of the retailer’s stock after selling 73,400 shares during the quarter. Costco Wholesale accounts for approximately 0.6% of Stone Ridge Asset Management LLC’s portfolio, making the stock its 27th largest holding. Stone Ridge Asset Management LLC’s holdings in Costco Wholesale were worth $9,981,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of COST. BKD Wealth Advisors LLC lifted its stake in shares of Costco Wholesale by 2.6% during the second quarter. BKD Wealth Advisors LLC now owns 1,533 shares of the retailer’s stock valued at $405,000 after buying an additional 39 shares during the period. Ferguson Wellman Capital Management Inc. lifted its stake in shares of Costco Wholesale by 0.3% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 14,527 shares of the retailer’s stock valued at $3,839,000 after buying an additional 40 shares during the period. Kistler Tiffany Companies LLC lifted its stake in shares of Costco Wholesale by 1.5% during the first quarter. Kistler Tiffany Companies LLC now owns 2,771 shares of the retailer’s stock valued at $671,000 after buying an additional 41 shares during the period. Canton Hathaway LLC lifted its stake in shares of Costco Wholesale by 41.0% during the second quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock valued at $37,000 after buying an additional 41 shares during the period. Finally, Nichols & Pratt Advisers LLP MA lifted its stake in shares of Costco Wholesale by 0.9% during the first quarter. Nichols & Pratt Advisers LLP MA now owns 5,018 shares of the retailer’s stock valued at $1,215,000 after buying an additional 44 shares during the period. Institutional investors own 71.21% of the company’s stock.

Several equities analysts recently issued reports on COST shares. BidaskClub raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 17th. BMO Capital Markets set a $275.00 price target on shares of Costco Wholesale and gave the stock a “buy” rating in a research note on Friday, May 31st. Robert W. Baird increased their price target on shares of Costco Wholesale from $270.00 to $290.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Raymond James increased their price target on shares of Costco Wholesale from $260.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, Goldman Sachs Group started coverage on shares of Costco Wholesale in a research note on Thursday, July 11th. They set a “buy” rating and a $290.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $266.04.

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

Shares of COST stock traded down $5.91 during mid-day trading on Friday, reaching $274.01. The company’s stock had a trading volume of 1,514,685 shares, compared to its average volume of 1,833,867. The company’s 50 day simple moving average is $275.79 and its 200-day simple moving average is $249.26. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $284.31. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $121.24 billion, a PE ratio of 40.12, a price-to-earnings-growth ratio of 3.86 and a beta of 0.95.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.06. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The business had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. During the same quarter last year, the firm posted $1.70 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts anticipate that Costco Wholesale Co. will post 8.04 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, August 29th. Costco Wholesale’s dividend payout ratio is presently 38.07%.

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

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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