Mutual of America Capital Management LLC Decreases Position in Costco Wholesale Corporation $COST

Mutual of America Capital Management LLC cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,575 shares of the retailer’s stock after selling 931 shares during the period. Costco Wholesale accounts for about 0.6% of Mutual of America Capital Management LLC’s portfolio, making the stock its 18th biggest position. Mutual of America Capital Management LLC’s holdings in Costco Wholesale were worth $51,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Corps Capital Advisors LLC raised its holdings in shares of Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after buying an additional 10 shares during the period. Covestor Ltd raised its holdings in shares of Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after buying an additional 10 shares during the period. MOKAN Wealth Management Inc. raised its holdings in shares of Costco Wholesale by 0.4% in the first quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock worth $2,499,000 after buying an additional 11 shares during the period. Aspect Partners LLC raised its holdings in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after buying an additional 11 shares during the period. Finally, Viewpoint Capital Management LLC raised its holdings in shares of Costco Wholesale by 0.4% in the first quarter. Viewpoint Capital Management LLC now owns 2,689 shares of the retailer’s stock worth $2,543,000 after buying an additional 11 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Up 1.2%

Shares of NASDAQ COST opened at $936.33 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $414.96 billion, a PE ratio of 51.42, a price-to-earnings-growth ratio of 5.68 and a beta of 0.98. The stock’s fifty day simple moving average is $949.51 and its two-hundred day simple moving average is $971.53. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23.

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

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given 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 (DPR) is 28.56%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COST. Truist Financial reduced 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. Roth Capital set a $907.00 price objective on Costco Wholesale and gave the stock a “neutral” rating in a research note on Friday, September 26th. Oppenheimer reissued an “outperform” rating and issued a $1,130.00 price objective on shares of Costco Wholesale in a research note on Friday, September 26th. Morgan Stanley dropped their price objective on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Finally, The Goldman Sachs Group increased their price objective on 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. Nineteen equities 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,068.15.

Insiders Place Their Bets

In other news, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was 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 directly owned 9,740 shares of the company’s stock, valued at $8,912,100. The trade was a 25.77% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company 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.