Oppenheimer Asset Management Inc. Trims Position in Costco Wholesale Co. (COST)

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Oppenheimer Asset Management Inc. decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 20.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,441 shares of the retailer’s stock after selling 5,574 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Costco Wholesale were worth $5,035,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nikulski Financial Inc. boosted its position in Costco Wholesale by 6.6% during the second quarter. Nikulski Financial Inc. now owns 8,980 shares of the retailer’s stock valued at $1,877,000 after purchasing an additional 555 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Costco Wholesale by 1.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,800,072 shares of the retailer’s stock valued at $376,180,000 after buying an additional 23,227 shares in the last quarter. British Airways Pensions Investment Management Ltd raised its holdings in Costco Wholesale by 0.8% during the second quarter. British Airways Pensions Investment Management Ltd now owns 104,814 shares of the retailer’s stock valued at $21,904,000 after buying an additional 853 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Costco Wholesale by 12.8% during the second quarter. Park Avenue Securities LLC now owns 3,158 shares of the retailer’s stock valued at $657,000 after buying an additional 359 shares in the last quarter. Finally, Exencial Wealth Advisors LLC bought a new position in Costco Wholesale during the second quarter valued at about $204,000. 71.49% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Roland Michael Vachris sold 6,600 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $225.88, for a total transaction of $1,490,808.00. Following the transaction, the vice president now directly owns 17,282 shares in the company, valued at $3,903,658.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard M. Libenson sold 2,049 shares of the business’s stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $224.00, for a total value of $458,976.00. Following the transaction, the director now owns 3,049 shares in the company, valued at $682,976. The disclosure for this sale can be found here. Insiders sold 40,649 shares of company stock worth $9,228,064 over the last quarter. 0.58% of the stock is currently owned by corporate insiders.

Costco Wholesale stock opened at $222.42 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.46 and a current ratio of 1.02. The stock has a market capitalization of $95.69 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. Costco Wholesale Co. has a 52 week low of $159.47 and a 52 week high of $245.16.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.02. The business had revenue of $44.41 billion for the quarter, compared to analyst estimates of $44.17 billion. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 earnings per share. Analysts anticipate that Costco Wholesale Co. will post 7.7 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. Costco Wholesale’s payout ratio is presently 33.38%.

COST has been the topic of several recent research reports. Wells Fargo & Co raised their target price on Costco Wholesale from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, July 12th. Gordon Haskett lowered Costco Wholesale from a “buy” rating to an “accumulate” rating in a report on Wednesday, July 25th. Loop Capital set a $265.00 target price on Costco Wholesale and gave the company a “buy” rating in a report on Wednesday, October 10th. Northcoast Research lowered Costco Wholesale from a “buy” rating to a “neutral” rating in a report on Friday, July 6th. Finally, Stifel Nicolaus raised their target price on Costco Wholesale from $220.00 to $245.00 and gave the company a “buy” rating in a report on Friday, September 7th. Nine analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $237.94.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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