Mackenzie Financial Corp Purchases 3,823 Shares of Costco Wholesale Corporation $COST

Mackenzie Financial Corp lifted its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166,398 shares of the retailer’s stock after purchasing an additional 3,823 shares during the period. Mackenzie Financial Corp’s holdings in Costco Wholesale were worth $164,724,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Costco Wholesale by 50.6% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 21,972 shares of the retailer’s stock worth $21,746,000 after purchasing an additional 7,384 shares during the last quarter. Norges Bank acquired a new position in shares of Costco Wholesale in the second quarter worth approximately $5,692,035,000. Measured Wealth Private Client Group LLC bought a new stake in Costco Wholesale in the second quarter valued at approximately $304,000. Quadrature Capital Ltd acquired a new stake in Costco Wholesale during the 2nd quarter valued at approximately $585,000. Finally, Patrick M Sweeney & Associates Inc. raised its holdings in Costco Wholesale by 1.2% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 2,593 shares of the retailer’s stock worth $2,560,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COST shares. Truist Financial cut their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research report on Friday, September 26th. BTIG Research began coverage on Costco Wholesale in a report on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 price target on the stock. Evercore ISI reduced 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 report on Friday, September 26th. Hovde Group initiated coverage on shares of Costco Wholesale in a research note on Tuesday, November 18th. They set a “market perform” rating and a $16.00 target price on the stock. Finally, 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. Eighteen research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus price target of $1,025.07.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $912.90 on Friday. The stock has a market cap of $404.58 billion, a price-to-earnings ratio of 50.13, a PEG ratio of 5.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. Costco Wholesale Corporation has a fifty-two week low of $871.71 and a fifty-two week high of $1,078.23. The firm’s 50-day simple moving average is $922.57 and its 200 day simple moving average is $959.38.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $5.15 earnings per share. As a group, research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insider Activity

In related news, EVP Claudine Adamo sold 2,700 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the transaction, the executive vice president directly owned 6,851 shares of the company’s stock, valued at $6,410,343.68. This trade represents a 28.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tiffany Marie Barbre sold 1,239 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the completion of the sale, the insider directly owned 5,155 shares of the company’s stock, valued at $4,817,966.10. The trade was a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 9,720 shares of company stock worth $9,010,257. Company insiders own 0.18% of the company’s stock.

About Costco Wholesale

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.