USS Investment Management Ltd Has $19.94 Million Position in Costco Wholesale Co. (NASDAQ:COST)

USS Investment Management Ltd reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 14.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,586 shares of the retailer’s stock after selling 6,855 shares during the quarter. USS Investment Management Ltd’s holdings in Costco Wholesale were worth $19,937,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in COST. State Street Corp lifted its stake in Costco Wholesale by 4.0% in the first quarter. State Street Corp now owns 19,039,672 shares of the retailer’s stock valued at $10,963,995,000 after acquiring an additional 738,447 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Costco Wholesale by 1.2% in the first quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock valued at $21,898,934,000 after purchasing an additional 467,631 shares during the period. Winslow Capital Management LLC bought a new position in shares of Costco Wholesale in the first quarter valued at approximately $242,940,000. Aaron Wealth Advisors LLC raised its position in shares of Costco Wholesale by 45,712.3% in the first quarter. Aaron Wealth Advisors LLC now owns 392,153 shares of the retailer’s stock valued at $681,000 after purchasing an additional 391,297 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of Costco Wholesale by 178.4% in the first quarter. Lord Abbett & CO. LLC now owns 504,948 shares of the retailer’s stock valued at $290,774,000 after purchasing an additional 323,591 shares during the period. 66.83% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of NASDAQ:COST traded up $2.54 on Thursday, hitting $534.49. The stock had a trading volume of 1,288,249 shares, compared to its average volume of 1,994,013. Costco Wholesale Co. has a twelve month low of $406.51 and a twelve month high of $612.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.46 and a current ratio of 1.02. The firm’s 50 day moving average price is $491.23 and its 200-day moving average price is $497.58. The company has a market capitalization of $236.57 billion, a price-to-earnings ratio of 40.68, a price-to-earnings-growth ratio of 3.59 and a beta of 0.72.

Costco Wholesale (NASDAQ:COSTGet Rating) last issued its earnings results on Thursday, September 22nd. The retailer reported $4.20 EPS for the quarter, beating the consensus estimate of $4.17 by $0.03. Costco Wholesale had a net margin of 2.58% and a return on equity of 29.44%. The company had revenue of $72.09 billion for the quarter, compared to the consensus estimate of $72 billion. During the same quarter in the previous year, the company earned $3.90 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities research analysts predict that Costco Wholesale Co. will post 14.45 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Friday, October 28th were paid a $0.90 dividend. The ex-dividend date was Thursday, October 27th. This represents a $3.60 annualized dividend and a dividend yield of 0.67%. Costco Wholesale’s dividend payout ratio is presently 27.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on COST shares. Wells Fargo & Company lowered shares of Costco Wholesale from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $600.00 to $490.00 in a research report on Monday, November 7th. Robert W. Baird reaffirmed an “outperform” rating and set a $575.00 target price on shares of Costco Wholesale in a research report on Friday, September 2nd. Oppenheimer dropped their target price on shares of Costco Wholesale from $600.00 to $550.00 and set an “outperform” rating on the stock in a research report on Friday, September 23rd. Loop Capital dropped their target price on shares of Costco Wholesale from $610.00 to $585.00 in a research report on Thursday, September 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Costco Wholesale from $579.00 to $581.00 and gave the stock a “buy” rating in a research report on Wednesday, September 21st. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $565.54.

Insider Buying and Selling

In related news, CFO Richard A. Galanti sold 2,000 shares of the company’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $471.12, for a total transaction of $942,240.00. Following the transaction, the chief financial officer now owns 29,318 shares in the company, valued at approximately $13,812,296.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Costco Wholesale news, CFO Richard A. Galanti sold 2,000 shares of the company’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $471.12, for a total transaction of $942,240.00. Following the transaction, the chief financial officer now directly owns 29,318 shares in the company, valued at approximately $13,812,296.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard A. Galanti sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $477.65, for a total transaction of $716,475.00. Following the transaction, the chief financial officer now owns 27,818 shares in the company, valued at $13,287,267.70. The disclosure for this sale can be found here. Insiders have sold a total of 6,500 shares of company stock worth $3,134,235 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

About Costco Wholesale

(Get Rating)

Costco Wholesale Corp. engages in the operation of membership warehouses through wholly owned subsidiaries. It operates through the following geographical segments: United States, Canada, and Other International Operations. The company was founded by James D. Sinegal and Jeffrey H. Brotman in 1983 and is headquartered in Issaquah, WA.

Further Reading

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

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