Savoir Faire Capital Management L.P. Raises Holdings in Costco Wholesale Corporation $COST

Savoir Faire Capital Management L.P. lifted its stake in Costco Wholesale Corporation (NASDAQ:COST) by 88.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,520 shares of the retailer’s stock after buying an additional 2,125 shares during the quarter. Costco Wholesale makes up 2.2% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 21st largest position. Savoir Faire Capital Management L.P.’s holdings in Costco Wholesale were worth $4,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Corps Capital Advisors LLC boosted its stake in shares of 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 boosted its stake in shares of Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after acquiring an additional 10 shares in the last quarter. Viewpoint Capital Management LLC boosted its stake in shares of Costco Wholesale by 0.4% during the 1st quarter. Viewpoint Capital Management LLC now owns 2,689 shares of the retailer’s stock worth $2,543,000 after acquiring an additional 11 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of Costco Wholesale by 0.4% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,071 shares of the retailer’s stock worth $2,905,000 after acquiring an additional 11 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC boosted its stake in shares of Costco Wholesale by 0.4% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 2,460 shares of the retailer’s stock worth $2,327,000 after acquiring an additional 11 shares in the last quarter. 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 $920.18 on Friday. The business has a 50 day simple moving average of $940.48 and a two-hundred day simple moving average of $970.92. Costco Wholesale Corporation has a 12 month low of $867.34 and a 12 month high of $1,078.23. The stock has a market capitalization of $407.81 billion, a P/E ratio of 50.53, a PEG ratio of 5.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55.

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

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $935.68, for a total value of $2,526,336.00. Following the transaction, the executive vice president directly owned 6,851 shares of the company’s stock, valued at $6,410,343.68. This trade represents a 28.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tiffany Marie Barbre sold 1,239 shares of the firm’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 transaction of $1,157,994.18. Following the completion of the transaction, the insider directly owned 5,155 shares in the company, valued at $4,817,966.10. This trade represents a 19.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 7,920 shares of company stock valued at $7,373,175. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COST. Citigroup lowered their target price on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. The Goldman Sachs Group increased their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Erste Group Bank lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Wolfe Research initiated coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They issued a “peer perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. Nineteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,068.15.

Costco Wholesale 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.