Costco Wholesale Co. (NASDAQ:COST) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 4.0% during the 3rd quarter, Holdings Channel reports. The fund owned 399,302 shares of the retailer’s stock after selling 16,485 shares during the quarter. Costco Wholesale makes up approximately 0.7% of New York State Teachers Retirement System’s investment portfolio, making the stock its 20th biggest position. New York State Teachers Retirement System’s holdings in Costco Wholesale were worth $353,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of COST. Financial Connections Group Inc. raised its stake 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 buying an additional 39 shares in the last quarter. Bank & Trust Co acquired a new stake in Costco Wholesale in the second quarter valued at $48,000. Ruedi Wealth Management Inc. raised its stake in Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Costco Wholesale in the second quarter valued at $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Costco Wholesale in the third quarter valued at $58,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the sale, the executive vice president now owns 8,630 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the sale, the executive vice president now directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,636 shares of company stock valued at $11,238,510 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $879.09 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a market cap of $389.50 billion, a P/E ratio of 53.05, a PEG ratio of 5.48 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $549.06 and a 52 week high of $923.83. The company has a 50-day moving average price of $892.30 and a 200 day moving average price of $842.70.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter last year, the firm earned $4.86 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Research analysts predict that Costco Wholesale Co. will post 17.75 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 paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.

Analyst Ratings Changes

COST has been the topic of a number of analyst reports. Melius Research started coverage on Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 price target on the stock. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a report on Thursday, October 17th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a report on Thursday, August 8th. Wells Fargo & Company raised their price objective on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $894.57.

Costco Wholesale 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.