BI Asset Management Fondsmaeglerselskab A S Decreases Holdings in Costco Wholesale Corporation $COST

BI Asset Management Fondsmaeglerselskab A S decreased its position in Costco Wholesale Corporation (NASDAQ:COST) by 11.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,150 shares of the retailer’s stock after selling 15,942 shares during the quarter. Costco Wholesale accounts for 1.2% of BI Asset Management Fondsmaeglerselskab A S’s portfolio, making the stock its 11th largest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Costco Wholesale were worth $120,921,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research firms have issued reports on COST. Raymond James Financial decreased their price objective on Costco Wholesale from $1,070.00 to $1,000.00 and set an “outperform” rating for the company in a report on Friday. DA Davidson reissued a “neutral” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research report on Thursday, December 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Costco Wholesale in a research note on Monday. Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the company a “neutral” rating in a research note on Friday, September 26th. Finally, Truist Financial dropped their price target on Costco Wholesale from $1,033.00 to $926.00 and set a “hold” rating on the stock in a research report on Friday. Eighteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $998.70.

Costco Wholesale Trading Down 0.0%

Shares of NASDAQ COST opened at $884.47 on Friday. The firm’s 50 day moving average price is $916.22 and its 200-day moving average price is $951.10. Costco Wholesale Corporation has a 52-week low of $867.12 and a 52-week high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The company has a market cap of $392.67 billion, a PE ratio of 47.37, a P/E/G ratio of 6.00 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, December 11th. The retailer reported $4.34 earnings per share for the quarter, beating the consensus estimate of $4.27 by $0.07. The company had revenue of $67.31 billion during the quarter, compared to the consensus estimate of $67.03 billion. Costco Wholesale had a net margin of 2.96% and a return on equity of 30.16%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.04 earnings per share. On average, equities research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

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. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, October 31st. Costco Wholesale’s dividend payout ratio is presently 28.56%.

Insiders Place Their Bets

In related news, insider Tiffany Marie Barbre sold 1,239 shares of Costco Wholesale stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the sale, the insider directly owned 5,155 shares in the company, valued at approximately $4,817,966.10. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction dated 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 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,720 shares of company stock valued at $9,010,257. 0.18% of the stock is currently owned by corporate 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.