Cim Investment Management Inc. Sells 58 Shares of Costco Wholesale Co. (NASDAQ:COST)

Cim Investment Management Inc. lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,877 shares of the retailer’s stock after selling 58 shares during the quarter. Cim Investment Management Inc.’s holdings in Costco Wholesale were worth $1,138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of COST. Ironwood Wealth Management LLC. increased its holdings in shares of Costco Wholesale by 18.2% during the first quarter. Ironwood Wealth Management LLC. now owns 3,283 shares of the retailer’s stock valued at $1,157,000 after acquiring an additional 506 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Costco Wholesale during the first quarter valued at about $1,850,000. Quilter Plc increased its holdings in shares of Costco Wholesale by 19.4% during the first quarter. Quilter Plc now owns 1,015 shares of the retailer’s stock valued at $358,000 after acquiring an additional 165 shares in the last quarter. Harbour Investments Inc. acquired a new position in shares of Costco Wholesale during the first quarter valued at about $153,000. Finally, M Holdings Securities Inc. purchased a new stake in Costco Wholesale in the first quarter valued at approximately $1,144,000. Hedge funds and other institutional investors own 66.96% of the company’s stock.

In other Costco Wholesale news, VP Joseph P. Portera sold 3,287 shares of the firm’s stock in a transaction on Friday, August 13th. The stock was sold at an average price of $445.50, for a total value of $1,464,358.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by company insiders.

A number of equities research analysts recently commented on the company. DA Davidson upped their target price on Costco Wholesale from $390.00 to $423.00 and gave the company a “neutral” rating in a research report on Friday, September 24th. Raymond James upped their target price on Costco Wholesale from $460.00 to $490.00 and gave the company an “outperform” rating in a research report on Friday, September 24th. Citigroup upped their target price on Costco Wholesale from $460.00 to $495.00 and gave the company a “neutral” rating in a research report on Tuesday, September 28th. Wells Fargo & Company upped their target price on Costco Wholesale from $415.00 to $480.00 and gave the company an “overweight” rating in a research report on Thursday, August 5th. Finally, Loop Capital upped their price objective on Costco Wholesale from $455.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, August 5th. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Costco Wholesale has a consensus rating of “Buy” and an average price target of $469.83.

NASDAQ COST traded up $5.99 during mid-day trading on Thursday, hitting $451.29. The stock had a trading volume of 36,144 shares, compared to its average volume of 2,234,364. The firm’s 50 day moving average is $453.08 and its 200 day moving average is $410.08. Costco Wholesale Co. has a twelve month low of $307.00 and a twelve month high of $470.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 0.50. The stock has a market capitalization of $199.39 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 4.35 and a beta of 0.66.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Wednesday, September 22nd. The retailer reported $3.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.57 by $0.33. Costco Wholesale had a return on equity of 27.30% and a net margin of 2.53%. The firm had revenue of $61.44 billion during the quarter, compared to the consensus estimate of $61.45 billion. During the same period in the prior year, the company earned $3.13 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. As a group, equities research analysts expect that Costco Wholesale Co. will post 10.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 29th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.70%. Costco Wholesale’s dividend payout ratio (DPR) is presently 35.71%.

About Costco Wholesale

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.

Further Reading: How Does the Quiet Period Work?

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

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