McIlrath & Eck LLC Increases Position in Costco Wholesale Co. (NASDAQ:COST)

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McIlrath & Eck LLC grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 9.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,683 shares of the retailer’s stock after acquiring an additional 235 shares during the quarter. Costco Wholesale comprises about 0.4% of McIlrath & Eck LLC’s portfolio, making the stock its 13th biggest position. McIlrath & Eck LLC’s holdings in Costco Wholesale were worth $773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Madrona Funds LLC acquired a new stake in shares of Costco Wholesale in the 3rd quarter worth $7,215,000. Brasada Capital Management LP lifted its position in Costco Wholesale by 3.7% during the 3rd quarter. Brasada Capital Management LP now owns 12,687 shares of the retailer’s stock worth $3,655,000 after acquiring an additional 454 shares during the period. Arthur M. Cohen & Associates LLC lifted its position in Costco Wholesale by 4.0% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 13,640 shares of the retailer’s stock worth $3,930,000 after acquiring an additional 530 shares during the period. Jacobs & Co. CA acquired a new stake in Costco Wholesale during the 3rd quarter worth about $12,737,000. Finally, Private Ocean LLC lifted its position in Costco Wholesale by 32.7% during the 3rd quarter. Private Ocean LLC now owns 1,212 shares of the retailer’s stock worth $350,000 after acquiring an additional 299 shares during the period. Institutional investors and hedge funds own 71.16% of the company’s stock.

In related news, Director Susan L. Decker sold 333 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $297.50, for a total value of $99,067.50. Following the transaction, the director now directly owns 41,470 shares in the company, valued at $12,337,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Russell D. Miller sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $302.83, for a total value of $302,830.00. Following the completion of the transaction, the executive vice president now owns 1 shares in the company, valued at $302.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,093 shares of company stock worth $9,915,511. Insiders own 0.21% of the company’s stock.

A number of analysts have commented on COST shares. BMO Capital Markets lifted their price target on Costco Wholesale from $275.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Robert W. Baird set a $325.00 price target on Costco Wholesale and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Northcoast Research cut Costco Wholesale from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Co lifted their price target on Costco Wholesale from $240.00 to $290.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Finally, ValuEngine cut Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company. Costco Wholesale has an average rating of “Buy” and a consensus target price of $295.57.

Shares of NASDAQ COST traded down $2.59 during trading on Friday, reaching $302.62. 1,501,500 shares of the company traded hands, compared to its average volume of 1,980,943. The stock has a market cap of $131.54 billion, a P/E ratio of 36.95, a PEG ratio of 4.09 and a beta of 0.93. The firm’s fifty day simple moving average is $294.80 and its 200 day simple moving average is $273.79. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $307.34. The company has a current ratio of 1.01, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.54 by $0.15. The business had revenue of $47.50 billion for the quarter, compared to analysts’ expectations of $47.71 billion. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.36 EPS. As a group, research analysts expect that Costco Wholesale Co. will post 8.61 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, October 31st. Costco Wholesale’s dividend payout ratio is currently 31.75%.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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