Costco Wholesale Corporation $COST Stock Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 6.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 51,758 shares of the retailer’s stock after acquiring an additional 3,176 shares during the period. Costco Wholesale accounts for approximately 0.5% of Illinois Municipal Retirement Fund’s portfolio, making the stock its 23rd biggest position. Illinois Municipal Retirement Fund’s holdings in Costco Wholesale were worth $47,117,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. First National Bank of Hutchinson grew its position in shares of Costco Wholesale by 0.9% during the first quarter. First National Bank of Hutchinson now owns 1,098 shares of the retailer’s stock worth $1,094,000 after buying an additional 10 shares in the last quarter. Frisch Financial Group Inc. increased its stake in shares of Costco Wholesale by 1.0% during the first quarter. Frisch Financial Group Inc. now owns 1,049 shares of the retailer’s stock worth $1,045,000 after buying an additional 10 shares during the period. Main Street Group LTD raised its holdings in Costco Wholesale by 0.8% in the first quarter. Main Street Group LTD now owns 1,226 shares of the retailer’s stock valued at $1,221,000 after acquiring an additional 10 shares in the last quarter. HORAN Wealth LLC raised its holdings in Costco Wholesale by 1.3% in the first quarter. HORAN Wealth LLC now owns 803 shares of the retailer’s stock valued at $769,000 after acquiring an additional 10 shares in the last quarter. Finally, SHUTTLEWORTH & Co raised its holdings in Costco Wholesale by 0.4% in the first quarter. SHUTTLEWORTH & Co now owns 2,442 shares of the retailer’s stock valued at $2,433,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In other Costco Wholesale news, EVP Claudine Adamo sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $915.93, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Richard Wilcox sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total transaction of $1,054,031.00. Following the sale, the executive vice president owned 3,094 shares of the company’s stock, valued at $2,964,701.74. This represents a 26.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on COST shares. Weiss Ratings downgraded shares of Costco Wholesale from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, November 4th. Wells Fargo & Company dropped their price objective on shares of Costco Wholesale from $1,000.00 to $950.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. Roth Capital restated a “sell” rating and issued a $781.00 price objective on shares of Costco Wholesale in a report on Friday, September 25th. Sanford C. Bernstein reduced their price objective on shares of Costco Wholesale from $1,144.00 to $1,143.00 and set an “outperform” rating on the stock in a report on Friday, September 25th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,091.84.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $1,066.14 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 1.06. Costco Wholesale Corporation has a fifty-two week low of $844.06 and a fifty-two week high of $1,096.50. The firm has a market capitalization of $472.44 billion, a PE ratio of 51.36, a price-to-earnings-growth ratio of 4.71 and a beta of 0.85. The stock’s 50-day simple moving average is $957.28 and its 200-day simple moving average is $973.36.

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

Costco Wholesale Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be issued a dividend of $30.00 per share. The ex-dividend date of this dividend is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.32%.

Costco Wholesale News Summary

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

Costco Wholesale Company Profile

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.