Costco Wholesale Corporation $COST Stake Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its stake in Costco Wholesale Corporation (NASDAQ:COST) by 6.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,758 shares of the retailer’s stock after acquiring an additional 3,176 shares during the quarter. Costco Wholesale comprises approximately 0.5% of Illinois Municipal Retirement Fund’s investment portfolio, making the stock its 23rd biggest position. Illinois Municipal Retirement Fund’s holdings in Costco Wholesale were worth $47,117,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Contravisory Investment Management Inc. grew its holdings in shares of Costco Wholesale by 107.7% in the third quarter. Contravisory Investment Management Inc. now owns 27 shares of the retailer’s stock valued at $25,000 after purchasing an additional 14 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Costco Wholesale during the second quarter worth about $28,000. Burk Holdings LLC purchased a new position in Costco Wholesale during the second quarter worth about $30,000. Manning & Napier Advisors LLC purchased a new position in Costco Wholesale during the second quarter worth about $30,000. Finally, John Boyer Inc. purchased a new position in Costco Wholesale during the third quarter worth about $32,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on COST shares. Mizuho decreased their target price on shares of Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Friday, September 25th. Evercore restated an “outperform” rating on shares of Costco Wholesale in a report on Tuesday, September 22nd. Freedom Broker lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and lifted their price target for the company from $1,010.00 to $1,050.00 in a research report on Tuesday. Argus reiterated a “buy” rating and issued a $1,230.00 price objective on shares of Costco Wholesale in a report on Monday, September 28th. Finally, Raymond James Financial decreased their price objective on Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating on the stock in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,091.84.

Insider Activity

In other news, EVP Claudine Adamo sold 2,200 shares of the stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the sale, the executive vice president owned 7,134 shares of the company’s stock, valued at approximately $6,534,244.62. This represents a 23.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Richard Wilcox sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the completion of the transaction, the executive vice president directly owned 3,094 shares of the company’s stock, valued at approximately $2,964,701.74. The trade was a 26.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.10% of the company’s stock.

Costco Wholesale Trading Down 0.0%

Shares of NASDAQ COST opened at $1,066.14 on Wednesday. Costco Wholesale Corporation has a twelve month low of $844.06 and a twelve month high of $1,096.50. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $957.28 and a 200-day simple moving average of $973.36. The stock has a market capitalization of $472.44 billion, a PE ratio of 51.36, a PEG ratio of 4.71 and a beta of 0.85.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.21. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm had revenue of $95.72 billion for the quarter, compared to the consensus estimate of $94.97 billion. During the same quarter in the previous year, the business earned $5.87 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that Costco Wholesale Corporation will post 22.70 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be given a $30.00 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. Costco Wholesale’s payout ratio is currently 28.32%.

More Costco Wholesale News

Here are the key news stories impacting Costco Wholesale this week:

• Positive Sentiment: Costco declared a $30-per-share special cash dividend, totaling about $13.3 billion, payable December 4 to shareholders of record November 24. The board also reauthorized a $4 billion share-repurchase program. The payout is a substantial one-time return of capital; the buyback provides ongoing flexibility to return cash and support per-share results. Costco dividend and repurchase announcement
• Positive Sentiment: Costco’s digital sales reportedly rose 22.5% in October, outpacing store comparable sales, while a separate report says it overtook Kroger in a grocery-market-share ranking. The growth suggests its online channels and membership model are drawing more spending, although the articles do not establish how much of that is already reflected in the stock. Costco digital sales report Costco grocery-share report
• Neutral Sentiment: Tumwater’s council approved a development agreement for a new Costco store. It may support local expansion, but the article provides no financial details to indicate a material near-term effect on company results. Tumwater Costco development agreement
• Negative Sentiment: Freedom Broker downgraded Costco from “buy” to “hold” and set a $1,050 price target, below the referenced share price. The higher target versus its prior estimate softens the message, but the downgrade could weigh on sentiment. Freedom Broker rating information

About Costco Wholesale

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line. The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.