Pacer Advisors Inc. Lowers Holdings in Costco Wholesale Co. (NASDAQ:COST)

Pacer Advisors Inc. lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,903 shares of the retailer’s stock after selling 1,421 shares during the quarter. Pacer Advisors Inc.’s holdings in Costco Wholesale were worth $59,311,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Connections Group Inc. grew its holdings in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Bank & Trust Co bought a new stake in shares of Costco Wholesale during the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. increased its stake in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares during the period. Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the 2nd quarter worth $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in Costco Wholesale during the third quarter worth approximately $58,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Price Performance

COST stock opened at $958.25 on Friday. Costco Wholesale Co. has a 12-month low of $582.83 and a 12-month high of $962.00. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $900.22 and its two-hundred day moving average price is $863.38. The stock has a market capitalization of $424.57 billion, a price-to-earnings ratio of 57.83, a PEG ratio of 5.74 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 2.90% and a return on equity of 31.05%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.86 earnings per share. As a group, equities analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

Analyst Upgrades and Downgrades

COST has been the subject of a number of research analyst reports. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Loop Capital lifted their price objective on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research note 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 stock an “outperform” rating in a research note on Monday. Evercore ISI raised their target price on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Melius Research started coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price for the company. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $908.81.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the sale, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the sale, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. The trade was a 27.05 % 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 90 days. Company insiders own 0.18% of the company’s stock.

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.