Kornitzer Capital Management Inc. KS Sells 1,618 Shares of Costco Wholesale Co. (NASDAQ:COST)

Kornitzer Capital Management Inc. KS cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,952 shares of the retailer’s stock after selling 1,618 shares during the period. Costco Wholesale makes up about 1.9% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 4th largest holding. Kornitzer Capital Management Inc. KS’s holdings in Costco Wholesale were worth $101,907,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Connections Group Inc. boosted its stake in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $48,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Costco Wholesale during the 2nd quarter worth about $50,000. Finally, Fairway Wealth LLC boosted its stake in shares of Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Evercore ISI lifted their price target on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Tigress Financial reiterated a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a report on Thursday, October 17th. Melius Research initiated coverage on Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Oppenheimer boosted their target price on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $905.30.

Costco Wholesale Trading Up 1.1 %

Costco Wholesale stock traded up $10.24 during midday trading on Thursday, hitting $909.49. 189,693 shares of the stock were exchanged, compared to its average volume of 1,914,235. The stock has a market capitalization of $402.97 billion, a PE ratio of 54.27, a P/E/G ratio of 5.45 and a beta of 0.80. The company has a fifty day simple moving average of $891.92 and a two-hundred day simple moving average of $848.69. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a 52 week low of $562.01 and a 52 week high of $923.83.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same period last year, the firm posted $4.86 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Insider Transactions at Costco Wholesale

In other news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale 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 transaction of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock valued at $11,238,510 over the last 90 days. 0.18% of the stock is owned by company insiders.

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.