Jennison Associates LLC Sells 188,436 Shares of Costco Wholesale Corporation $COST

Jennison Associates LLC trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 5.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,169,194 shares of the retailer’s stock after selling 188,436 shares during the quarter. Costco Wholesale comprises about 1.9% of Jennison Associates LLC’s investment portfolio, making the stock its 11th biggest holding. Jennison Associates LLC owned about 0.71% of Costco Wholesale worth $3,137,312,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of COST. Peterson Wealth Services increased its stake in Costco Wholesale by 0.5% during the 2nd quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock valued at $13,479,000 after purchasing an additional 72 shares in the last quarter. Fishman Jay A Ltd. MI increased its stake in Costco Wholesale by 3.5% during the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock valued at $16,718,000 after purchasing an additional 575 shares in the last quarter. Independent Solutions Wealth Management LLC increased its stake in Costco Wholesale by 0.3% during the 2nd 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. Personal CFO Solutions LLC increased its stake in Costco Wholesale by 12.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock valued at $1,436,000 after purchasing an additional 167 shares in the last quarter. Finally, Graybill Wealth Management LTD. bought a new stake in Costco Wholesale during the 1st quarter valued at about $3,095,000. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

COST opened at $924.16 on Wednesday. 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 company has a market cap of $409.57 billion, a price-to-earnings ratio of 50.75, a PEG ratio of 5.64 and a beta of 0.98. The company’s 50 day moving average is $943.11 and its 200 day moving average is $971.63. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23.

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, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same quarter in the previous year, the firm earned $5.15 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders 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 dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.56%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction on 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 sale, the executive vice president 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 Securities & Exchange Commission, which is available through this link. Also, insider Tiffany Marie Barbre sold 1,239 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the sale, the insider directly owned 5,155 shares in the company, valued at approximately $4,817,966.10. The trade was a 19.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 7,920 shares of company stock worth $7,373,175. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on COST. JPMorgan Chase & Co. reduced their price objective on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Citigroup reduced their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Roth Capital set a $907.00 price target on shares of Costco Wholesale and gave the stock a “neutral” rating in a research note on Friday, September 26th. Oppenheimer reiterated an “outperform” rating and issued a $1,130.00 price target on shares of Costco Wholesale in a research note on Friday, September 26th. Finally, Sanford C. Bernstein lifted their price target on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $1,068.15.

About Costco Wholesale

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.