Mackay Shields LLC Sells 35,027 Shares of Costco Wholesale Co. (NASDAQ:COST)

Mackay Shields LLC lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 33.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 69,426 shares of the retailer’s stock after selling 35,027 shares during the period. Mackay Shields LLC’s holdings in Costco Wholesale were worth $27,470,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in COST. Baillie Gifford & Co. acquired a new stake in shares of Costco Wholesale in the second quarter worth $31,000. KB Financial Partners LLC acquired a new stake in shares of Costco Wholesale in the first quarter worth $35,000. West Financial Advisors LLC grew its stake in shares of Costco Wholesale by 100.0% in the second quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock worth $40,000 after acquiring an additional 50 shares during the last quarter. PNC Managed Account Solutions Inc. acquired a new stake in shares of Costco Wholesale in the second quarter worth $42,000. Finally, FFT Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the second quarter worth $48,000. 66.96% of the stock is currently owned by institutional investors.

NASDAQ:COST traded up $5.23 on Thursday, hitting $450.53. 31,051 shares of the stock were exchanged, compared to its average volume of 2,234,364. The stock has a market capitalization of $199.05 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 4.35 and a beta of 0.66. Costco Wholesale Co. has a 52 week low of $307.00 and a 52 week high of $470.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.50 and a current ratio of 1.00. The company’s 50-day moving average price is $453.08 and its 200 day moving average price is $410.08.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Wednesday, September 22nd. The retailer reported $3.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.57 by $0.33. The company had revenue of $61.44 billion during the quarter, compared to analyst estimates of $61.45 billion. Costco Wholesale had a return on equity of 27.30% and a net margin of 2.53%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.13 EPS. As a group, equities research analysts predict that Costco Wholesale Co. will post 10.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Friday, October 29th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 0.70%. Costco Wholesale’s payout ratio is currently 35.71%.

In other news, VP Joseph P. Portera sold 3,287 shares of the business’s stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $445.50, for a total transaction of $1,464,358.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by insiders.

Several equities research analysts have recently issued reports on COST shares. Credit Suisse Group raised their price objective on shares of Costco Wholesale from $400.00 to $490.00 and gave the stock a “neutral” rating in a research note on Monday, September 27th. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 price target on the stock in a research note on Monday, September 6th. Robert W. Baird lifted their price target on shares of Costco Wholesale from $500.00 to $520.00 and gave the stock an “outperform” rating in a research note on Friday, September 24th. Stifel Nicolaus lifted their price target on shares of Costco Wholesale from $420.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, July 23rd. Finally, Wells Fargo & Company lifted their price target on shares of Costco Wholesale from $415.00 to $480.00 and gave the stock an “overweight” rating in a research note on Thursday, August 5th. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $469.83.

Costco Wholesale Profile

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.

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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).

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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