Costco Wholesale Corporation $COST Position Reduced by MBM Wealth Consultants LLC

MBM Wealth Consultants LLC lowered its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,654 shares of the retailer’s stock after selling 78 shares during the quarter. MBM Wealth Consultants LLC’s holdings in Costco Wholesale were worth $1,637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Costco Wholesale by 1.7% during the second quarter. Vanguard Group Inc. now owns 43,356,271 shares of the retailer’s stock worth $42,920,107,000 after buying an additional 711,560 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Costco Wholesale by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 10,275,056 shares of the retailer’s stock valued at $10,124,263,000 after purchasing an additional 150,844 shares during the period. Norges Bank acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at $5,692,035,000. Alliancebernstein L.P. increased its stake in Costco Wholesale by 0.4% in the 1st quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer’s stock worth $4,097,127,000 after purchasing an additional 18,045 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Costco Wholesale by 5.2% during the first quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer’s stock valued at $3,695,796,000 after buying an additional 191,985 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Up 0.5%

Costco Wholesale stock opened at $912.90 on Monday. 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 Corporation has a fifty-two week low of $871.71 and a fifty-two week high of $1,078.23. The firm has a fifty day moving average price of $922.57 and a two-hundred day moving average price of $958.88. The firm has a market cap of $404.58 billion, a price-to-earnings ratio of 50.13, a P/E/G ratio of 5.54 and a beta of 0.98.

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

Costco Wholesale Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on COST shares. Erste Group Bank downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Hovde Group assumed 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 for the company. Oppenheimer dropped their price target on shares of Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Citigroup reduced their price objective on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Tuesday, November 4th. Eighteen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,025.07.

Insiders Place Their Bets

In other Costco Wholesale news, EVP William Richard Wilcox sold 2,400 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $930.13, for a total value of $2,232,312.00. Following the completion of the sale, the executive vice president directly owned 2,000 shares of the company’s stock, valued at $1,860,260. This represents a 54.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the transaction, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,720 shares of company stock valued at $9,010,257 over the last ninety days. 0.18% of the stock is owned by insiders.

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.