King Luther Capital Management Corp Acquires 2,093 Shares of Costco Wholesale Corporation $COST

King Luther Capital Management Corp increased its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 4.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 46,762 shares of the retailer’s stock after acquiring an additional 2,093 shares during the quarter. King Luther Capital Management Corp’s holdings in Costco Wholesale were worth $46,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COST. Bulwark Capital Corp purchased a new stake in shares of Costco Wholesale in the 2nd quarter worth $25,000. LFA Lugano Financial Advisors SA bought a new stake in Costco Wholesale during the second quarter valued at about $31,000. Anderson Financial Strategies LLC increased its position in Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after buying an additional 36 shares in the last quarter. Financial Connections Group Inc. raised its stake in shares of Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after buying an additional 39 shares during the period. Finally, Frazier Financial Advisors LLC lifted its position in shares of Costco Wholesale by 72.0% during the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock valued at $43,000 after buying an additional 18 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 0.1%

Shares of Costco Wholesale stock opened at $922.74 on Friday. Costco Wholesale Corporation has a twelve month low of $871.71 and a twelve month high of $1,078.23. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $938.12 and a 200-day moving average price of $968.70. The firm has a market cap of $408.94 billion, a price-to-earnings ratio of 50.67, a PEG ratio of 5.54 and a beta of 0.98.

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

Costco Wholesale Announces Dividend

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

Analyst Upgrades and Downgrades

COST has been the topic of a number of recent analyst reports. Mizuho decreased their target price on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Costco Wholesale in a research report on Wednesday, October 8th. Oppenheimer lowered their target price 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. Erste Group Bank lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Finally, Daiwa Capital Markets decreased their price target on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,063.88.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Claudine Adamo sold 2,700 shares of Costco Wholesale stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the completion of the transaction, the executive vice president owned 6,851 shares in the company, valued at approximately $6,410,343.68. This trade represents a 28.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares in the company, valued at approximately $8,912,100. This trade 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 7,920 shares of company stock worth $7,373,175 in the last 90 days. 0.18% of the stock is currently owned by insiders.

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.