Costco Wholesale Co. (NASDAQ:COST) Stake Decreased by North Point Portfolio Managers Corp OH

North Point Portfolio Managers Corp OH trimmed its position in Costco Wholesale Co. (NASDAQ:COST) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,294 shares of the retailer’s stock after selling 62 shares during the period. Costco Wholesale accounts for 4.7% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 2nd biggest position. North Point Portfolio Managers Corp OH’s holdings in Costco Wholesale were worth $26,600,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Oak Asset Management LLC raised its holdings in shares of Costco Wholesale by 0.3% in the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after acquiring an additional 12 shares in the last quarter. Peddock Capital Advisors LLC increased its position in Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares during the period. Bedel Financial Consulting Inc. lifted its position in shares of Costco Wholesale by 1.3% in the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after purchasing an additional 13 shares during the period. Boltwood Capital Management lifted its position in shares of Costco Wholesale by 1.7% in the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock worth $671,000 after purchasing an additional 13 shares during the period. Finally, LifePro Asset Management boosted its stake in shares of Costco Wholesale by 3.8% during the second quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock valued at $304,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insider Activity

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the transaction, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock worth $4,252,856 over the last three months. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ:COST traded up $5.75 during trading hours on Friday, reaching $892.38. 1,931,611 shares of the company were exchanged, compared to its average volume of 1,963,146. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm has a market cap of $395.62 billion, a PE ratio of 55.29, a price-to-earnings-growth ratio of 5.84 and a beta of 0.78. Costco Wholesale Co. has a twelve month low of $539.31 and a twelve month high of $918.93. The stock’s 50-day moving average is $853.32 and its 200-day moving average is $792.84.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. During the same quarter in the prior year, the firm earned $3.43 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 15.98 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COST. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a report on Thursday, August 8th. Robert W. Baird raised their price objective on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Telsey Advisory Group reiterated an “outperform” rating and issued a $925.00 target price on shares of Costco Wholesale in a report on Tuesday. Citigroup raised their price target on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Finally, Barclays raised their price objective on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $824.50.

Costco Wholesale Profile

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.