Costco Wholesale Corporation $COST Stock Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC trimmed its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 10.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,853 shares of the retailer’s stock after selling 3,434 shares during the period. Costco Wholesale accounts for 0.9% of Cornerstone Advisors LLC’s portfolio, making the stock its 21st largest holding. Cornerstone Advisors LLC’s holdings in Costco Wholesale were worth $28,087,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of COST. Contravisory Investment Management Inc. increased its stake in Costco Wholesale by 107.7% in the 3rd quarter. Contravisory Investment Management Inc. now owns 27 shares of the retailer’s stock worth $25,000 after buying an additional 14 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Costco Wholesale in the second quarter valued at about $28,000. Burk Holdings LLC purchased a new position in shares of Costco Wholesale in the second quarter valued at about $30,000. Manning & Napier Advisors LLC bought a new position in shares of Costco Wholesale in the second quarter worth about $30,000. Finally, John Boyer Inc. bought a new position in shares of Costco Wholesale in the third quarter worth about $32,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $1,106.21 on Friday. The firm has a market cap of $490.19 billion, a PE ratio of 53.29, a PEG ratio of 4.82 and a beta of 0.85. The stock has a 50 day moving average of $967.12 and a 200 day moving average of $975.13. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. Costco Wholesale Corporation has a 12 month low of $844.06 and a 12 month high of $1,109.50.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 24th. The retailer reported $6.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.54 by $0.21. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The business had revenue of $95.72 billion for the quarter, compared to the consensus estimate of $94.97 billion. During the same quarter in the previous year, the company posted $5.87 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts expect that Costco Wholesale Corporation will post 22.70 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently announced a special dividend, which will be paid on Friday, December 4th. Stockholders of record on Tuesday, November 24th will be given a dividend of $30.00 per share. The ex-dividend date is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio is currently 28.32%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Teresa A. Jones sold 900 shares of the company’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $1,083.95, for a total transaction of $975,555.00. Following the sale, the executive vice president owned 5,698 shares of the company’s stock, valued at $6,176,347.10. This represents a 13.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sarah Catherine George sold 756 shares of Costco Wholesale stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $1,096.01, for a total transaction of $828,583.56. Following the completion of the transaction, the executive vice president directly owned 3,112 shares of the company’s stock, valued at $3,410,783.12. The trade was a 19.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 4,956 shares of company stock valued at $4,873,216. 0.10% of the stock is owned by company insiders.

Key Headlines Impacting Costco Wholesale

Here are a few of the latest headlines about COST:

• Positive Sentiment: Costco’s recent sales growth and strong membership-focused business have helped fuel optimism ahead of its next quarterly results, scheduled for December 10. Article: Costco Hits All-Time High Amid $4 Billion Buyback, Special Dividend
• Neutral Sentiment: Two executives, Teresa Jones and Sarah Catherine George, disclosed sales of 900 and 756 shares, respectively. Insider sales can attract attention, but the reports do not establish that the transactions reflect a change in business outlook. Article: Costco insider trades
• Negative Sentiment: Commentary cautions that Costco’s valuation is elevated, potentially limiting upside if growth or results fall short of high expectations. Article: Does Costco’s Special Dividend Offer Enough Reason to Buy the Stock?

Analyst Upgrades and Downgrades

Several analysts recently issued reports on COST shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research report on Friday, October 9th. CICC Research initiated coverage on Costco Wholesale in a report on Wednesday, October 21st. They issued an “outperform” rating and a $1,050.00 price target on the stock. Tigress Financial upped their price target on Costco Wholesale from $1,065.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Deutsche Bank cut their price objective on shares of Costco Wholesale from $1,091.00 to $1,079.00 and set a “buy” rating for the company in a report on Monday, September 28th. Finally, Roth Capital reaffirmed a “sell” rating and set a $781.00 price objective on shares of Costco Wholesale in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,092.23.

About Costco Wholesale

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line. The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.