Mendel Money Management Has $1.21 Million Stake in Costco Wholesale Corporation $COST

Mendel Money Management trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.6% in the second quarter, HoldingsChannel reports. The firm owned 1,223 shares of the retailer’s stock after selling 33 shares during the period. Mendel Money Management’s holdings in Costco Wholesale were worth $1,211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COST. Nuveen LLC acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at $3,461,159,000. Kingstone Capital Partners Texas LLC lifted its holdings in Costco Wholesale by 418,980.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 2,359,422 shares of the retailer’s stock worth $2,335,686,000 after acquiring an additional 2,358,859 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Costco Wholesale by 1.0% during the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock worth $40,332,515,000 after acquiring an additional 443,101 shares in the last quarter. National Bank of Canada FI lifted its holdings in Costco Wholesale by 84.0% during the first quarter. National Bank of Canada FI now owns 812,188 shares of the retailer’s stock worth $768,114,000 after acquiring an additional 370,806 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in Costco Wholesale by 2,369.5% during the second quarter. Valeo Financial Advisors LLC now owns 323,288 shares of the retailer’s stock worth $320,036,000 after acquiring an additional 310,197 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $924.16 on Wednesday. Costco Wholesale Corporation has a twelve month low of $867.34 and a twelve month high of $1,078.23. The business’s 50 day moving average price is $943.11 and its two-hundred day moving average price is $971.63. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The company has a market cap of $409.57 billion, a PE ratio of 50.75, a price-to-earnings-growth ratio of 5.64 and a beta of 0.98.

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

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have weighed in on COST. Morgan Stanley reduced their target price on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Jefferies Financial Group restated a “buy” rating on shares of Costco Wholesale in a report on Thursday, October 9th. Wolfe Research assumed coverage on Costco Wholesale in a report on Thursday, September 18th. They issued a “peer perform” rating on the stock. Truist Financial cut their price target on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a report on Friday, September 26th. Finally, BTIG Research began coverage on Costco Wholesale in a report on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 target price on the stock. Nineteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,068.15.

Insider Transactions at Costco Wholesale

In related news, insider Tiffany Marie Barbre sold 1,239 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the sale, the insider directly owned 5,155 shares in the company, valued at approximately $4,817,966.10. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,920 shares of company stock worth $7,373,175 over the last three months. Company insiders own 0.18% of the company’s stock.

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.