Comgest Global Investors S.A.S. Has $213.75 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Comgest Global Investors S.A.S. lessened its position in Costco Wholesale Co. (NASDAQ:COST) by 7.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 241,115 shares of the retailer’s stock after selling 20,183 shares during the period. Costco Wholesale comprises approximately 3.1% of Comgest Global Investors S.A.S.’s holdings, making the stock its 14th biggest holding. Comgest Global Investors S.A.S.’s holdings in Costco Wholesale were worth $213,753,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Connections Group Inc. lifted its position in 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 buying an additional 39 shares in the last quarter. Bank & Trust Co acquired a new position in Costco Wholesale during the 2nd quarter worth about $48,000. Ruedi Wealth Management Inc. lifted its position in 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 in the last quarter. Summit Securities Group LLC acquired a new position in Costco Wholesale during the 2nd quarter worth about $50,000. Finally, Fairway Wealth LLC lifted its position in Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on COST shares. Oppenheimer upped their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Telsey Advisory Group reissued an “outperform” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a report on Monday, November 4th. Morgan Stanley upped their price target on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft upped 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, StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $905.30.

Costco Wholesale Stock Performance

COST traded down $16.82 during trading hours on Friday, reaching $907.07. The company’s stock had a trading volume of 2,269,945 shares, compared to its average volume of 1,930,030. Costco Wholesale Co. has a 52 week low of $572.24 and a 52 week high of $962.00. The company’s 50-day moving average is $897.62 and its 200-day moving average is $857.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The firm has a market cap of $401.90 billion, a PE ratio of 54.74, a price-to-earnings-growth ratio of 5.76 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter in the prior year, the business earned $4.86 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Insiders Place Their Bets

In related news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now 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 sale 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 firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the transaction, 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 90 days. Company insiders own 0.18% of the company’s stock.

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.