Silphium Asset Management Ltd Trims Stock Holdings in Costco Wholesale Corporation $COST

Silphium Asset Management Ltd reduced its position in Costco Wholesale Corporation (NASDAQ:COST) by 20.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,089 shares of the retailer’s stock after selling 1,545 shares during the quarter. Costco Wholesale comprises approximately 2.1% of Silphium Asset Management Ltd’s portfolio, making the stock its 13th biggest position. Silphium Asset Management Ltd’s holdings in Costco Wholesale were worth $6,028,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Peterson Wealth Services grew its position in Costco Wholesale by 0.5% in the 2nd quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock valued at $13,479,000 after buying an additional 72 shares during the last quarter. Fishman Jay A Ltd. MI boosted its holdings in Costco Wholesale by 3.5% in the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock valued at $16,718,000 after purchasing an additional 575 shares in the last quarter. Wealthspire Advisors LLC raised its stake in shares of Costco Wholesale by 2.0% during the 2nd quarter. Wealthspire Advisors LLC now owns 15,799 shares of the retailer’s stock worth $15,640,000 after buying an additional 312 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Costco Wholesale by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 43,356,271 shares of the retailer’s stock valued at $42,920,107,000 after buying an additional 711,560 shares during the period. Finally, Independent Solutions Wealth Management LLC boosted its stake in shares of Costco Wholesale by 0.3% in the second quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock valued at $20,430,000 after buying an additional 53 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wolfe Research assumed coverage on Costco Wholesale in a report on Thursday, September 18th. They issued a “peer perform” rating for the company. Jefferies Financial Group reiterated a “buy” rating on shares of Costco Wholesale in a research report on Thursday, October 9th. Telsey Advisory Group restated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Tuesday, November 4th. BTIG Research initiated coverage on Costco Wholesale in a report on Tuesday, October 14th. They issued a “buy” rating and a $1,115.00 target price on the stock. Finally, Argus increased 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. Eighteen analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,025.07.

Insider Transactions at Costco Wholesale

In related news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. This represents a 25.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 2,700 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $935.68, for a total value of $2,526,336.00. Following the completion of the sale, the executive vice president owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. This represents a 28.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,720 shares of company stock worth $9,010,257 in the last three months. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $894.33 on Wednesday. The firm’s 50-day moving average is $925.31 and its two-hundred day moving average is $960.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The stock has a market capitalization of $396.35 billion, a P/E ratio of 49.11, a P/E/G ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a 12-month low of $871.71 and a 12-month high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same quarter last year, the business earned $5.15 earnings per share. Costco Wholesale’s revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a $1.30 dividend. The ex-dividend date was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.56%.

Costco Wholesale Company 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.