iA Global Asset Management Inc. decreased its holdings in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 77.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,483 shares of the retailer's stock after selling 157,759 shares during the period. Costco Wholesale makes up approximately 0.7% of iA Global Asset Management Inc.'s investment portfolio, making the stock its 28th largest position. iA Global Asset Management Inc.'s holdings in Costco Wholesale were worth $40,322,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of COST. Sound Income Strategies LLC boosted its stake in Costco Wholesale by 33.5% during the second quarter. Sound Income Strategies LLC now owns 960 shares of the retailer's stock worth $816,000 after buying an additional 241 shares during the last quarter. Fermata Advisors LLC raised its holdings in shares of Costco Wholesale by 22.0% during the 2nd quarter. Fermata Advisors LLC now owns 1,957 shares of the retailer's stock worth $1,663,000 after acquiring an additional 353 shares during the period. Cornerstone Wealth Advisors Inc. acquired a new position in shares of Costco Wholesale during the 2nd quarter valued at about $289,000. Inspirion Wealth Advisors LLC grew its holdings in shares of Costco Wholesale by 6.8% in the second quarter. Inspirion Wealth Advisors LLC now owns 722 shares of the retailer's stock valued at $614,000 after purchasing an additional 46 shares during the period. Finally, Retirement Planning Group LLC increased its position in Costco Wholesale by 4.4% during the second quarter. Retirement Planning Group LLC now owns 33,291 shares of the retailer's stock worth $28,297,000 after purchasing an additional 1,416 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ COST opened at $992.61 on Friday. The firm has a market cap of $439.80 billion, a P/E ratio of 59.90, a PEG ratio of 6.11 and a beta of 0.82. Costco Wholesale Co. has a 1 year low of $606.35 and a 1 year high of $997.71. The stock has a fifty day moving average price of $913.65 and a two-hundred day moving average price of $876.82. 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 (NASDAQ:COST - Get Free Report) last posted its quarterly 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 business had revenue of $79.70 billion during 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 revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.86 earnings per share. Research analysts forecast that Costco Wholesale Co. will post 17.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.47%. Costco Wholesale's dividend payout ratio is 28.00%.
Several analysts have recently weighed in on the stock. StockNews.com cut shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Friday, September 27th. Truist Financial lowered Costco Wholesale from a "buy" rating to a "hold" rating and set a $873.00 price objective for the company. in a research report on Tuesday, September 24th. Roth Mkm lifted their target price on Costco Wholesale from $676.00 to $755.00 and gave the company a "neutral" rating in a research report on Friday, September 27th. Redburn Atlantic cut Costco Wholesale from a "buy" rating to a "neutral" rating and increased their price target for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Finally, Stifel Nicolaus boosted their price objective on shares of Costco Wholesale from $935.00 to $1,000.00 and gave the company a "buy" rating in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $928.50.
Check Out Our Latest Report on Costco Wholesale
In other news, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares in the company, valued at $9,155,409.10. The trade was a 16.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,016 shares of company stock worth $9,826,115. Company insiders own 0.18% of the company's stock.
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.
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