Cim Investment Management Inc. Has $2.39 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Cim Investment Management Inc. trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,696 shares of the retailer’s stock after selling 74 shares during the period. Costco Wholesale accounts for approximately 0.7% of Cim Investment Management Inc.’s holdings, making the stock its 20th largest holding. Cim Investment Management Inc.’s holdings in Costco Wholesale were worth $2,390,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Costco Wholesale by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock worth $2,489,574,000 after purchasing an additional 32,074 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after buying an additional 932 shares during the period. Hudson Value Partners LLC lifted its holdings in Costco Wholesale by 7.6% during the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after acquiring an additional 568 shares in the last quarter. Nwam LLC acquired a new position in Costco Wholesale in the third quarter valued at about $20,056,000. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of Costco Wholesale by 66.9% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock valued at $2,738,000 after purchasing an additional 1,238 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the transaction, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,016 shares of company stock worth $9,826,115. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.6 %

Shares of Costco Wholesale stock traded up $6.08 on Thursday, hitting $1,000.77. The stock had a trading volume of 214,403 shares, compared to its average volume of 1,915,639. The firm has a market capitalization of $443.42 billion, a P/E ratio of 60.03, a PEG ratio of 6.05 and a beta of 0.82. The stock has a 50 day moving average of $922.46 and a 200 day moving average of $882.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a twelve month low of $630.30 and a twelve month high of $1,007.80.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.86 EPS. Sell-side analysts expect that Costco Wholesale Co. will post 17.74 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Costco Wholesale from $935.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Jefferies Financial Group boosted their price target on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Melius Research began coverage on Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price on the stock. Finally, BMO Capital Markets lifted their price target on shares of Costco Wholesale from $980.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $931.89.

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.