Dearborn Partners LLC Has $37.50 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Dearborn Partners LLC decreased its stake in Costco Wholesale Co. (NASDAQ:COST) by 25.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,300 shares of the retailer’s stock after selling 14,748 shares during the quarter. Costco Wholesale accounts for about 1.5% of Dearborn Partners LLC’s investment portfolio, making the stock its 28th largest holding. Dearborn Partners LLC’s holdings in Costco Wholesale were worth $37,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Costco Wholesale by 62.8% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after buying an additional 932 shares during the period. Hudson Value Partners LLC increased its holdings in shares of Costco Wholesale by 7.6% in the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock valued at $7,133,000 after purchasing an additional 568 shares during the period. Cantor Fitzgerald Investment Advisors L.P. lifted its position in shares of Costco Wholesale by 66.9% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock worth $2,738,000 after purchasing an additional 1,238 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Costco Wholesale by 52.1% during the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after purchasing an additional 2,620 shares during the period. Finally, Patton Fund Management Inc. purchased a new position in Costco Wholesale during the third quarter valued at approximately $6,424,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 1.1 %

Shares of COST stock opened at $923.89 on Friday. Costco Wholesale Co. has a one year low of $572.24 and a one year high of $962.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The stock has a fifty day moving average price of $896.25 and a 200 day moving average price of $855.99. The stock has a market cap of $409.35 billion, a P/E ratio of 55.76, a price-to-earnings-growth ratio of 5.76 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released 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. The company had revenue of $79.70 billion during 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 firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $4.86 EPS. Analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.50%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Insider Buying and Selling

In related news, EVP Pierre Riel sold 2,000 shares of the 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 sale, the executive vice president now directly owns 10,210 shares in the company, valued at $9,155,409.10. This represents a 16.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction 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 sale, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,016 shares of company stock worth $9,826,115 in the last 90 days. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COST. Morgan Stanley boosted their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Melius Research began coverage on Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group increased their price objective on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $905.30.

Costco Wholesale Company Profile

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.