Cardinal Point Capital Management ULC Boosts Stock Holdings in Costco Wholesale Corporation $COST

Cardinal Point Capital Management ULC increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1,665.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,732 shares of the retailer’s stock after buying an additional 7,294 shares during the period. Cardinal Point Capital Management ULC’s holdings in Costco Wholesale were worth $7,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Corps Capital Advisors LLC grew its holdings in Costco Wholesale by 0.7% during the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after acquiring an additional 10 shares in the last quarter. Covestor Ltd raised its holdings in shares of Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after buying an additional 10 shares during the last quarter. MOKAN Wealth Management Inc. raised its holdings in shares of Costco Wholesale by 0.4% during the first quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock valued at $2,499,000 after buying an additional 11 shares during the last quarter. Aspect Partners LLC raised its holdings in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares in the last quarter. Finally, Viewpoint Capital Management LLC raised its holdings in Costco Wholesale by 0.4% during the first quarter. Viewpoint Capital Management LLC now owns 2,689 shares of the retailer’s stock worth $2,543,000 after purchasing an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 0.3%

Costco Wholesale stock opened at $942.05 on Friday. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The firm has a market cap of $417.50 billion, a price-to-earnings ratio of 51.73, a P/E/G ratio of 5.73 and a beta of 0.98. The firm has a fifty day moving average price of $946.03 and a two-hundred day moving average price of $971.51.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The firm had revenue of $86.16 billion during the quarter, compared to analyst estimates of $86.01 billion. During the same quarter in the prior year, the business posted $5.15 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale’s dividend payout ratio is currently 28.56%.

Analysts Set New Price Targets

Several brokerages recently commented on COST. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday, September 24th. Mizuho dropped their target price on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. JPMorgan Chase & Co. dropped their target price on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Daiwa Capital Markets dropped their target price on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $1,130.00 target price on shares of Costco Wholesale in a report on Friday, September 26th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,068.15.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Company 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.