Man Group plc Increases Position in Costco Wholesale Co. (NASDAQ:COST)

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Man Group plc increased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 23.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 63,948 shares of the retailer’s stock after acquiring an additional 11,941 shares during the quarter. Man Group plc’s holdings in Costco Wholesale were worth $18,424,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Tocqueville Asset Management L.P. raised its stake in Costco Wholesale by 0.5% during the third quarter. Tocqueville Asset Management L.P. now owns 6,422 shares of the retailer’s stock valued at $1,850,000 after buying an additional 34 shares in the last quarter. CX Institutional increased its holdings in shares of Costco Wholesale by 0.5% in the 3rd quarter. CX Institutional now owns 7,182 shares of the retailer’s stock valued at $2,069,000 after acquiring an additional 35 shares during the last quarter. Crewe Advisors LLC increased its holdings in shares of Costco Wholesale by 9.2% in the 3rd quarter. Crewe Advisors LLC now owns 415 shares of the retailer’s stock valued at $120,000 after acquiring an additional 35 shares during the last quarter. Brandywine Oak Private Wealth LLC raised its position in shares of Costco Wholesale by 2.5% during the 3rd quarter. Brandywine Oak Private Wealth LLC now owns 1,476 shares of the retailer’s stock valued at $425,000 after acquiring an additional 36 shares in the last quarter. Finally, Hills Bank & Trust Co. lifted its stake in Costco Wholesale by 0.5% during the third quarter. Hills Bank & Trust Co. now owns 7,017 shares of the retailer’s stock worth $2,021,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

A number of research firms have commented on COST. Barclays set a $275.00 price objective on shares of Costco Wholesale and gave the stock a “hold” rating in a report on Monday, August 12th. Oppenheimer cut shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $295.00 to $300.00 in a report on Wednesday, September 11th. Deutsche Bank raised their price target on shares of Costco Wholesale from $272.00 to $274.00 and gave the stock a “hold” rating in a research report on Tuesday, October 1st. Robert W. Baird set a $325.00 price target on shares of Costco Wholesale and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Loop Capital boosted their price objective on shares of Costco Wholesale to $330.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $295.04.

NASDAQ COST opened at $297.39 on Tuesday. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week 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. The stock has a market cap of $131.81 billion, a price-to-earnings ratio of 36.56, a price-to-earnings-growth ratio of 4.12 and a beta of 0.91. The company has a 50-day moving average price of $299.93 and a two-hundred day moving average price of $280.34.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 3rd. The retailer reported $2.69 EPS for the quarter, beating the consensus estimate of $2.54 by $0.15. The company had revenue of $47.50 billion for the quarter, compared to analyst estimates of $47.71 billion. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. Costco Wholesale’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.36 earnings per share. As a group, equities research analysts expect that Costco Wholesale Co. will post 8.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is 31.75%.

In other Costco Wholesale news, Director Susan L. Decker sold 1,703 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $303.01, for a total transaction of $516,026.03. Following the completion of the transaction, the director now owns 38,432 shares in the company, valued at approximately $11,645,280.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard A. Galanti sold 1,984 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $302.80, for a total value of $600,755.20. Following the completion of the transaction, the chief financial officer now directly owns 26,165 shares of the company’s stock, valued at approximately $7,922,762. The disclosure for this sale can be found here. Insiders sold a total of 36,780 shares of company stock valued at $11,032,292 over the last three months. Corporate insiders own 0.21% of the company’s stock.

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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