Costco Wholesale Corporation $COST Shares Acquired by RNC Capital Management LLC

RNC Capital Management LLC grew its stake in Costco Wholesale Corporation (NASDAQ:COST) by 1.8% during the 2nd quarter, Holdings Channel reports. The firm owned 3,170 shares of the retailer’s stock after purchasing an additional 56 shares during the quarter. RNC Capital Management LLC’s holdings in Costco Wholesale were worth $3,138,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Corps Capital Advisors LLC grew its position in shares of Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after purchasing an additional 10 shares during the period. Covestor Ltd boosted its position in Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after acquiring an additional 10 shares during the last quarter. MOKAN Wealth Management Inc. grew its stake in Costco Wholesale by 0.4% during the 1st quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock valued at $2,499,000 after acquiring an additional 11 shares in the last quarter. Aspect Partners LLC grew its stake in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after acquiring an additional 11 shares in the last quarter. Finally, Viewpoint Capital Management LLC grew its stake in Costco Wholesale by 0.4% during the 1st quarter. Viewpoint Capital Management LLC now owns 2,689 shares of the retailer’s stock valued at $2,543,000 after acquiring an additional 11 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares of the company’s stock, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on COST. Oppenheimer reaffirmed an “outperform” rating and set a $1,130.00 price objective on shares of Costco Wholesale in a research note on Friday, September 26th. Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Argus upped their price objective on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. Finally, Evercore ISI dropped their price objective on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. Nineteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,068.15.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $944.68 on Thursday. The company’s 50-day moving average is $946.70 and its two-hundred day moving average is $971.28. The firm has a market capitalization of $418.66 billion, a price-to-earnings ratio of 51.88, a PEG ratio of 5.69 and a beta of 0.98. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the previous year, the firm earned $5.15 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale’s dividend payout ratio is presently 28.56%.

Costco Wholesale 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.