Massachusetts Wealth Management Has $2.44 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Massachusetts Wealth Management reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,757 shares of the retailer’s stock after selling 40 shares during the period. Costco Wholesale makes up approximately 1.5% of Massachusetts Wealth Management’s portfolio, making the stock its 23rd largest position. Massachusetts Wealth Management’s holdings in Costco Wholesale were worth $2,444,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Costco Wholesale by 1.2% during the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after purchasing an additional 473,702 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Costco Wholesale by 113,947.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after purchasing an additional 7,364,453 shares in the last quarter. Capital World Investors boosted its holdings in shares of Costco Wholesale by 8.1% in the 1st quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock valued at $2,802,147,000 after buying an additional 285,533 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Costco Wholesale by 2.5% in the second quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock valued at $3,102,941,000 after buying an additional 88,550 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Costco Wholesale by 28.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock worth $1,307,363,000 after buying an additional 338,780 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Trading Down 0.2 %

Shares of Costco Wholesale stock opened at $891.22 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The company has a market capitalization of $394.87 billion, a price-to-earnings ratio of 53.79, a PEG ratio of 5.50 and a beta of 0.80. The firm’s 50-day moving average price is $891.76 and its two-hundred day moving average price is $839.41.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same quarter last year, the business posted $4.86 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s payout ratio is 28.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on COST shares. Telsey Advisory Group reissued an “outperform” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 10th. Morgan Stanley lifted their price target on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Oppenheimer upped their price objective on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Bank of America increased their price target on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Ten equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $894.57.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the transaction, the executive vice president now directly owns 10,210 shares in the company, valued at approximately $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,636 shares of company stock valued at $11,238,510. Corporate insiders own 0.18% of the company’s stock.

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.