Retirement Systems of Alabama Cuts Stake in Costco Wholesale Co. (NASDAQ:COST)

Retirement Systems of Alabama lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 15.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,811 shares of the retailer’s stock after selling 26,027 shares during the period. Retirement Systems of Alabama’s holdings in Costco Wholesale were worth $129,264,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of COST. Oddo BHF Asset Management Sas purchased a new stake in Costco Wholesale during the 3rd quarter worth about $9,539,000. Garde Capital Inc. raised its position in shares of Costco Wholesale by 4.3% during the 3rd quarter. Garde Capital Inc. now owns 3,954 shares of the retailer’s stock worth $3,506,000 after acquiring an additional 162 shares in the last quarter. Inspire Trust Co. N.A. lifted its stake in Costco Wholesale by 12.8% during the third quarter. Inspire Trust Co. N.A. now owns 2,700 shares of the retailer’s stock worth $2,394,000 after purchasing an additional 307 shares during the last quarter. Old North State Trust LLC boosted its holdings in Costco Wholesale by 1.1% in the third quarter. Old North State Trust LLC now owns 2,299 shares of the retailer’s stock valued at $2,038,000 after purchasing an additional 26 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Costco Wholesale by 30.2% during the 3rd quarter. Tidal Investments LLC now owns 25,231 shares of the retailer’s stock worth $22,368,000 after buying an additional 5,853 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the sale, the executive vice president now 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. Insiders have sold 11,016 shares of company stock worth $9,826,115 in the last ninety days. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Sanford C. Bernstein assumed coverage on Costco Wholesale in a report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective on the stock. Redburn Atlantic cut Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Melius Research assumed coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective on the stock. Finally, Robert W. Baird upped their price target on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $976.43.

Costco Wholesale Trading Down 1.1 %

NASDAQ:COST opened at $977.98 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. Costco Wholesale Co. has a 12 month low of $630.30 and a 12 month high of $1,007.80. The firm has a market capitalization of $433.31 billion, a PE ratio of 59.65, a price-to-earnings-growth ratio of 6.05 and a beta of 0.82. The business’s 50-day moving average is $924.72 and its two-hundred day moving average is $883.45.

Costco Wholesale (NASDAQ:COST) last issued 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. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same quarter in the previous year, the business posted $4.86 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. Research analysts predict that Costco Wholesale Co. will post 17.77 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued 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 presently 28.00%.

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.