Optas LLC Grows Position in Costco Wholesale Co. (NASDAQ:COST)

Optas LLC raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 30.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,368 shares of the retailer’s stock after purchasing an additional 546 shares during the period. Optas LLC’s holdings in Costco Wholesale were worth $841,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Bernardo Wealth Planning LLC purchased a new position in Costco Wholesale in the third quarter valued at approximately $275,000. Fieldpoint Private Securities LLC increased its stake in Costco Wholesale by 4.8% in the third quarter. Fieldpoint Private Securities LLC now owns 2,685 shares of the retailer’s stock valued at $953,000 after purchasing an additional 123 shares during the last quarter. James Investment Research Inc. increased its stake in Costco Wholesale by 3.6% in the third quarter. James Investment Research Inc. now owns 7,870 shares of the retailer’s stock valued at $2,793,000 after purchasing an additional 270 shares during the last quarter. Raub Brock Capital Management LP increased its stake in Costco Wholesale by 16.0% in the third quarter. Raub Brock Capital Management LP now owns 868 shares of the retailer’s stock valued at $308,000 after purchasing an additional 120 shares during the last quarter. Finally, Tompkins Financial Corp grew its position in shares of Costco Wholesale by 0.3% during the third quarter. Tompkins Financial Corp now owns 13,545 shares of the retailer’s stock worth $4,808,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 68.20% of the company’s stock.

In other news, EVP James C. Klauer sold 4,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $342.72, for a total transaction of $1,370,880.00. Following the completion of the sale, the executive vice president now directly owns 49,402 shares of the company’s stock, valued at $16,931,053.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan L. Decker sold 1,250 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $335.84, for a total value of $419,800.00. Following the sale, the director now directly owns 25,497 shares of the company’s stock, valued at $8,562,912.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,804 shares of company stock valued at $5,460,267. 0.22% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on COST. Robert W. Baird raised their target price on shares of Costco Wholesale from $335.00 to $375.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Barclays raised Costco Wholesale from an “equal weight” rating to an “overweight” rating and set a $400.00 price target for the company in a report on Tuesday, October 6th. Raymond James increased their price target on Costco Wholesale from $355.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, September 25th. Telsey Advisory Group increased their price target on Costco Wholesale from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, September 25th. Finally, CSFB increased their price target on Costco Wholesale from $328.00 to $370.00 and gave the stock a “neutral” rating in a report on Tuesday, October 6th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Costco Wholesale currently has an average rating of “Buy” and a consensus price target of $368.54.

Shares of Costco Wholesale stock traded down $2.49 during trading on Monday, hitting $372.11. The stock had a trading volume of 25,203 shares, compared to its average volume of 2,840,970. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.13 and a quick ratio of 0.64. The firm has a market cap of $165.28 billion, a P/E ratio of 41.53, a PEG ratio of 4.70 and a beta of 0.69. The business has a fifty day moving average of $355.11 and a two-hundred day moving average of $325.88. Costco Wholesale Co. has a fifty-two week low of $271.28 and a fifty-two week high of $384.87.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 24th. The retailer reported $3.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.85 by $0.28. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $52.03 billion. Costco Wholesale had a return on equity of 22.71% and a net margin of 2.40%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.69 earnings per share. As a group, research analysts forecast that Costco Wholesale Co. will post 9.6 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Thursday, October 29th. Costco Wholesale’s dividend payout ratio is 31.64%.

About Costco Wholesale

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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