Investment Management Corp of Ontario Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)

Investment Management Corp of Ontario increased its position in Costco Wholesale Co. (NASDAQ:COST) by 48.5% in the third quarter, HoldingsChannel reports. The firm owned 41,946 shares of the retailer’s stock after purchasing an additional 13,697 shares during the quarter. Costco Wholesale accounts for approximately 0.8% of Investment Management Corp of Ontario’s holdings, making the stock its 17th biggest holding. Investment Management Corp of Ontario’s holdings in Costco Wholesale were worth $37,186,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in COST. Iron Gate Global Advisors LLC lifted its position in Costco Wholesale by 1.5% in the third quarter. Iron Gate Global Advisors LLC now owns 1,652 shares of the retailer’s stock worth $1,465,000 after buying an additional 25 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in Costco Wholesale by 84.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 3,072 shares of the retailer’s stock valued at $2,723,000 after buying an additional 1,402 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Costco Wholesale in the third quarter valued at approximately $7,203,000. Harmony Asset Management LLC increased its stake in Costco Wholesale by 27.5% during the 3rd quarter. Harmony Asset Management LLC now owns 543 shares of the retailer’s stock worth $481,000 after purchasing an additional 117 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its position in Costco Wholesale by 54.4% during the third quarter. Hilltop Holdings Inc. now owns 6,598 shares of the retailer’s stock valued at $5,849,000 after purchasing an additional 2,324 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Melius Research began coverage on Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price target on the stock. Oppenheimer upped their price objective on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Sanford C. Bernstein assumed coverage on Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective for the company. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, DA Davidson reissued a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $908.81.

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the sale, the executive vice president now directly 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. Insiders sold a total of 11,016 shares of company stock valued at $9,826,115 over the last three months. 0.18% of the stock is owned by insiders.

Costco Wholesale Trading Up 0.3 %

Shares of COST stock opened at $975.00 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The company has a market cap of $431.99 billion, a PE ratio of 58.84, a price-to-earnings-growth ratio of 6.00 and a beta of 0.82. The stock’s 50 day simple moving average is $907.62 and its two-hundred day simple moving average is $872.68. Costco Wholesale Co. has a 1 year low of $591.46 and a 1 year high of $976.50.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $4.86 earnings per share. Research analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $1.16 per share. The ex-dividend date was Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. Costco Wholesale’s payout ratio is currently 28.00%.

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.