Costco Wholesale Corporation $COST is Telligent Fund LP’s 9th Largest Position

Telligent Fund LP boosted its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 6.4% in the second quarter, HoldingsChannel.com reports. The firm owned 5,000 shares of the retailer’s stock after buying an additional 300 shares during the quarter. Costco Wholesale comprises about 4.5% of Telligent Fund LP’s investment portfolio, making the stock its 9th largest holding. Telligent Fund LP’s holdings in Costco Wholesale were worth $4,950,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in COST. Vanguard Group Inc. boosted its holdings 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 buying an additional 711,560 shares in the last quarter. Geode Capital Management LLC lifted its position in Costco Wholesale by 1.5% in the second quarter. Geode Capital Management LLC now owns 10,275,056 shares of the retailer’s stock valued at $10,124,263,000 after acquiring an additional 150,844 shares during the last quarter. Alliancebernstein L.P. lifted its position in Costco Wholesale by 0.4% in the first quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer’s stock valued at $4,097,127,000 after acquiring an additional 18,045 shares during the last quarter. Invesco Ltd. boosted its stake in Costco Wholesale by 5.2% in the first quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer’s stock valued at $3,695,796,000 after acquiring an additional 191,985 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Costco Wholesale during the first quarter worth about $3,461,159,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Russell D. Miller sold 3,381 shares of the 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 completion of the transaction, the executive vice president directly owned 9,740 shares of the company’s stock, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Claudine Adamo sold 2,700 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $935.68, for a total value of $2,526,336.00. Following the completion of the sale, the executive vice president directly owned 6,851 shares in the company, valued at $6,410,343.68. This represents a 28.27% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 9,720 shares of company stock valued at $9,010,257. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

COST has been the topic of a number of research analyst reports. Citigroup cut their target price on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. BTIG Research initiated coverage on Costco Wholesale in a research report on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 price target on the stock. Truist Financial reduced their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research note on Friday, September 26th. JPMorgan Chase & Co. lowered their target price on shares of Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Thursday, October 9th. Eighteen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,025.07.

Costco Wholesale Trading Down 0.5%

Shares of COST stock opened at $890.60 on Thursday. Costco Wholesale Corporation has a twelve month low of $871.71 and a twelve month high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $930.74 and its two-hundred day moving average is $964.43. The company has a market capitalization of $394.70 billion, a P/E ratio of 48.91, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share 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 revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $5.15 earnings per share. Equities analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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

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.