Costco Wholesale Co. (COST) Shares Sold by Rehmann Capital Advisory Group
Rehmann Capital Advisory Group reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 55.9% in the third quarter, Holdings Channel reports. The fund owned 2,916 shares of the retailer’s stock after selling 3,701 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Costco Wholesale were worth $685,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Lee Financial Co raised its position in Costco Wholesale by 63.7% during the 3rd quarter. Lee Financial Co now owns 555 shares of the retailer’s stock valued at $130,000 after purchasing an additional 216 shares in the last quarter. Joel Isaacson & Co. LLC raised its position in Costco Wholesale by 14.0% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 1,787 shares of the retailer’s stock valued at $420,000 after purchasing an additional 220 shares in the last quarter. Telemus Capital LLC raised its position in Costco Wholesale by 6.8% during the 3rd quarter. Telemus Capital LLC now owns 3,499 shares of the retailer’s stock valued at $822,000 after purchasing an additional 224 shares in the last quarter. Cypress Capital Management LLC WY raised its position in Costco Wholesale by 8.0% during the 2nd quarter. Cypress Capital Management LLC WY now owns 3,055 shares of the retailer’s stock valued at $638,000 after purchasing an additional 225 shares in the last quarter. Finally, Northstar Asset Management LLC raised its position in Costco Wholesale by 16.6% during the 3rd quarter. Northstar Asset Management LLC now owns 1,586 shares of the retailer’s stock valued at $373,000 after purchasing an additional 226 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.
In related news, insider W Craig Jelinek sold 22,500 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $223.52, for a total transaction of $5,029,200.00. Following the transaction, the insider now directly owns 322,958 shares in the company, valued at approximately $72,187,572.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $235.81, for a total value of $707,430.00. Following the transaction, the director now owns 8,654 shares in the company, valued at $2,040,699.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,312 shares of company stock worth $13,847,852. 0.74% of the stock is owned by company insiders.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.34 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The firm had revenue of $44.41 billion for the quarter, compared to the consensus estimate of $44.17 billion. During the same period in the previous year, the business earned $2.08 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that Costco Wholesale Co. will post 7.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, November 8th. This represents a $2.28 annualized dividend and a yield of 1.01%. Costco Wholesale’s dividend payout ratio (DPR) is 33.38%.
A number of brokerages have weighed in on COST. BMO Capital Markets set a $260.00 target price on Costco Wholesale and gave the company a “buy” rating in a research report on Monday, September 10th. Bank of America set a $255.00 target price on Costco Wholesale and gave the company a “buy” rating in a research report on Thursday, October 4th. Loop Capital set a $265.00 target price on Costco Wholesale and gave the company a “buy” rating in a research report on Wednesday, October 10th. BidaskClub lowered Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 15th. Finally, Northcoast Research raised Costco Wholesale from a “neutral” rating to a “buy” rating in a research report on Friday, October 12th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $236.85.
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About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).
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