Costco Wholesale Corporation $COST Stock: Mesirow Financial Investment Management Inc. Decreases Holdings

Mesirow Financial Investment Management Inc. trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 4.1% during the third quarter, Holdings Channel.com reports. The fund owned 42,497 shares of the retailer’s stock after selling 1,834 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Costco Wholesale were worth $38,696,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of COST. State Street Corp grew its position in shares of Costco Wholesale by 31.7% during the 2nd quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock worth $22,359,224,000 after purchasing an additional 5,749,362 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Costco Wholesale by 11.5% during the first quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer’s stock worth $7,488,203,000 after purchasing an additional 773,651 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Costco Wholesale by 5.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,068,312 shares of the retailer’s stock valued at $2,870,314,000 after buying an additional 160,893 shares in the last quarter. Amundi raised its position in shares of Costco Wholesale by 11.1% in the first quarter. Amundi now owns 2,839,016 shares of the retailer’s stock valued at $2,828,881,000 after buying an additional 283,360 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Costco Wholesale in the second quarter valued at approximately $2,362,188,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale News Roundup

Here are the key news stories impacting Costco Wholesale this week:

• Positive Sentiment: Costco declared a $30-per-share special cash dividend, totaling about $13.3 billion, payable December 4 to shareholders of record November 24. The board also reauthorized a $4 billion share-repurchase program. The payout is a substantial one-time return of capital; the buyback provides ongoing flexibility to return cash and support per-share results. Costco dividend and repurchase announcement
• Positive Sentiment: Costco’s digital sales reportedly rose 22.5% in October, outpacing store comparable sales, while a separate report says it overtook Kroger in a grocery-market-share ranking. The growth suggests its online channels and membership model are drawing more spending, although the articles do not establish how much of that is already reflected in the stock. Costco digital sales report Costco grocery-share report
• Neutral Sentiment: Tumwater’s council approved a development agreement for a new Costco store. It may support local expansion, but the article provides no financial details to indicate a material near-term effect on company results. Tumwater Costco development agreement
• Negative Sentiment: Freedom Broker downgraded Costco from “buy” to “hold” and set a $1,050 price target, below the referenced share price. The higher target versus its prior estimate softens the message, but the downgrade could weigh on sentiment. Freedom Broker rating information

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Mizuho cut their price target on Costco Wholesale from $1,100.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Friday, September 25th. JPMorgan Chase & Co. raised their price objective on Costco Wholesale from $1,015.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Raymond James Financial dropped their price objective on Costco Wholesale from $1,100.00 to $1,050.00 and set an “outperform” rating for the company in a report on Friday, September 25th. Sanford C. Bernstein cut their target price on Costco Wholesale from $1,144.00 to $1,143.00 and set an “outperform” rating for the company in a research report on Friday, September 25th. Finally, Guggenheim reiterated a “neutral” rating on shares of Costco Wholesale in a research report on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $1,091.84.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $1,066.14 on Wednesday. The firm has a 50 day moving average of $957.28 and a 200-day moving average of $973.36. Costco Wholesale Corporation has a 12 month low of $844.06 and a 12 month high of $1,096.50. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $472.44 billion, a PE ratio of 51.36, a PEG ratio of 4.71 and a beta of 0.85.

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

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 2,200 shares of the firm’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total value of $2,015,046.00. Following the sale, the executive vice president owned 7,134 shares of the company’s stock, valued at approximately $6,534,244.62. This trade represents a 23.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William Richard Wilcox sold 1,100 shares of the firm’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total value of $1,054,031.00. Following the completion of the sale, the executive vice president directly owned 3,094 shares in the company, valued at approximately $2,964,701.74. This represents a 26.23% decrease in their position. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by corporate insiders.

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.