AlphaCentric Advisors LLC Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

AlphaCentric Advisors LLC lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 6.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 499 shares of the retailer’s stock after selling 35 shares during the period. AlphaCentric Advisors LLC’s holdings in Costco Wholesale were worth $442,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Financial Connections Group Inc. lifted its holdings in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares during the period. Bank & Trust Co acquired a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. raised its stake in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after buying an additional 25 shares during the period. Summit Securities Group LLC acquired a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Costco Wholesale during the 3rd quarter worth approximately $58,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 1.0 %

COST opened at $886.07 on Tuesday. Costco Wholesale Co. has a 12 month low of $560.13 and a 12 month high of $923.83. 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 market cap of $392.59 billion, a P/E ratio of 53.47, a P/E/G ratio of 5.40 and a beta of 0.80. The stock’s 50 day moving average price is $892.07 and its 200 day moving average price is $847.07.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same period last year, the firm earned $4.86 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, research analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $980.00 target price (up from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. TD Cowen increased their price objective on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Roth Mkm increased their price objective on Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Morgan Stanley increased their price objective on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Evercore ISI increased their price objective on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $905.30.

Insider Activity

In other news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the transaction, the executive vice president now directly owns 23,800 shares in the company, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale 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 transaction, the executive vice president now directly owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the transaction, the executive vice president now owns 23,800 shares in the company, valued at $20,560,344. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,636 shares of company stock worth $11,238,510. 0.18% of the stock is owned by company insiders.

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.