R Squared Ltd Acquires 2,701 Shares of Costco Wholesale Corporation $COST

R Squared Ltd boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 178.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,211 shares of the retailer’s stock after acquiring an additional 2,701 shares during the quarter. Costco Wholesale accounts for about 2.0% of R Squared Ltd’s investment portfolio, making the stock its largest holding. R Squared Ltd’s holdings in Costco Wholesale were worth $3,833,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of COST. Contravisory Investment Management Inc. lifted its position in shares of Costco Wholesale by 107.7% in the third quarter. Contravisory Investment Management Inc. now owns 27 shares of the retailer’s stock worth $25,000 after purchasing an additional 14 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Costco Wholesale during the second quarter worth approximately $28,000. Burk Holdings LLC purchased a new position in Costco Wholesale during the second quarter valued at approximately $30,000. Manning & Napier Advisors LLC purchased a new position in Costco Wholesale during the second quarter valued at approximately $30,000. Finally, John Boyer Inc. purchased a new position in Costco Wholesale during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ COST opened at $1,092.21 on Friday. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $483.99 billion, a PE ratio of 52.61, a price-to-earnings-growth ratio of 4.81 and a beta of 0.85. Costco Wholesale Corporation has a 12-month low of $844.06 and a 12-month high of $1,102.84. The company has a 50 day moving average price of $963.50 and a two-hundred day moving average price of $974.45.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, topping the consensus estimate of $6.54 by $0.21. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The company had revenue of $95.72 billion for the quarter, compared to analyst estimates of $94.97 billion. During the same quarter in the prior year, the business posted $5.87 EPS. Costco Wholesale’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Costco Wholesale Corporation will post 22.70 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Friday, December 4th. Investors of record on Tuesday, November 24th will be paid a $30.00 dividend. The ex-dividend date of this dividend is Tuesday, November 24th. Costco Wholesale’s payout ratio is presently 28.32%.

Analyst Upgrades and Downgrades

COST has been the topic of several research reports. Robert W. Baird set a $1,175.00 price objective on shares of Costco Wholesale in a research note on Friday, September 25th. Sanford C. Bernstein lifted their target price on shares of Costco Wholesale from $1,143.00 to $1,155.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company lowered their price target on shares of Costco Wholesale from $1,000.00 to $950.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Guggenheim restated a “neutral” rating on shares of Costco Wholesale in a report on Monday, September 28th. Finally, UBS Group reaffirmed a “buy” rating on shares of Costco Wholesale in a research note on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,092.23.

Key Headlines Impacting Costco Wholesale

These are some of the COST headlines that stood out recently:

• Positive Sentiment: Costco announced a $30-per-share special dividend—about $13.3 billion in total—payable December 4 to shareholders of record November 24, and reauthorized a $4 billion share-buyback program. The sizable payout signals strong cash generation and is the main catalyst behind the stock’s recent strength near its 52-week high. Article: Costco to Pay out $30 Special Dividend, Renews $4 Billion Stock Buyback Program
• Negative Sentiment: A federal lawsuit alleging misleading discounts presents a potential legal and reputational overhang; the provided report does not detail the allegations or potential exposure. Article: Costco faces federal suit over misleading discounts
• Neutral Sentiment: EVP Teresa A. Jones sold 900 shares for about $976,000, reducing her position by 13.64% but retaining 5,698 shares. A single executive sale is not necessarily a signal about the company’s outlook. SEC Form 4 filing

Insider Buying and Selling

In related news, EVP Teresa A. Jones sold 900 shares of the company’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $1,083.95, for a total value of $975,555.00. Following the completion of the sale, the executive vice president directly owned 5,698 shares in the company, valued at approximately $6,176,347.10. This represents a 13.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Claudine Adamo sold 2,200 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the transaction, the executive vice president directly owned 7,134 shares in the company, valued at $6,534,244.62. The trade was a 23.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 4,200 shares of company stock worth $4,044,632. Corporate insiders own 0.10% of the company’s stock.

Costco Wholesale Profile

Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line. The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.