Davis R M Inc. Cuts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Davis R M Inc. trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,989 shares of the retailer’s stock after selling 1,351 shares during the quarter. Costco Wholesale makes up approximately 1.8% of Davis R M Inc.’s investment portfolio, making the stock its 12th biggest holding. Davis R M Inc.’s holdings in Costco Wholesale were worth $93,075,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Financial Connections Group Inc. increased its holdings in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares during the period. Bank & Trust Co purchased a new position in Costco Wholesale in the second quarter worth $48,000. Ruedi Wealth Management Inc. grew its holdings in Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the last quarter. Summit Securities Group LLC purchased a new position in Costco Wholesale in the second quarter worth $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the third quarter valued at $58,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $964.01 on Monday. The firm has a market cap of $427.12 billion, a PE ratio of 58.18, a price-to-earnings-growth ratio of 5.95 and a beta of 0.80. Costco Wholesale Co. has a 52-week low of $582.83 and a 52-week high of $976.30. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $901.18 and its two-hundred day moving average is $866.19.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $4.86 EPS. On average, research analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. Costco Wholesale’s payout ratio is 28.00%.

Insider Activity

In related news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on Thursday, October 24th. The shares were 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 directly owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 4.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. This trade represents a 30.13 % 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. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a report on Monday, November 4th. TD Cowen boosted their price objective on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wells Fargo & Company boosted their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. BMO Capital Markets boosted their price objective on shares of Costco Wholesale from $980.00 to $1,075.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Finally, Barclays boosted their price objective on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $908.81.

About Costco Wholesale

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.