ProShare Advisors LLC Reduces Stock Position in Costco Wholesale Co. (NASDAQ:COST)

ProShare Advisors LLC cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 412,838 shares of the retailer’s stock after selling 22,668 shares during the period. Costco Wholesale makes up approximately 0.6% of ProShare Advisors LLC’s holdings, making the stock its 23rd largest holding. ProShare Advisors LLC’s holdings in Costco Wholesale were worth $222,264,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Profund Advisors LLC grew its position in shares of Costco Wholesale by 5.3% in the second quarter. Profund Advisors LLC now owns 25,186 shares of the retailer’s stock valued at $13,560,000 after purchasing an additional 1,263 shares during the last quarter. Moran Wealth Management LLC grew its position in shares of Costco Wholesale by 0.5% in the second quarter. Moran Wealth Management LLC now owns 12,647 shares of the retailer’s stock valued at $6,809,000 after purchasing an additional 64 shares during the last quarter. Hollencrest Capital Management grew its position in shares of Costco Wholesale by 1.3% in the second quarter. Hollencrest Capital Management now owns 10,546 shares of the retailer’s stock valued at $5,678,000 after purchasing an additional 138 shares during the last quarter. Oxford Financial Group Ltd. grew its position in shares of Costco Wholesale by 35.9% in the second quarter. Oxford Financial Group Ltd. now owns 4,443 shares of the retailer’s stock valued at $2,392,000 after purchasing an additional 1,173 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Costco Wholesale by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 369,725 shares of the retailer’s stock valued at $199,053,000 after purchasing an additional 6,053 shares during the last quarter. 66.31% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Down 0.2 %

Costco Wholesale stock traded down $1.43 during midday trading on Friday, hitting $577.15. 1,774,272 shares of the stock were exchanged, compared to its average volume of 1,823,492. Costco Wholesale Co. has a 1 year low of $447.90 and a 1 year high of $599.89. The firm has a market cap of $255.53 billion, a P/E ratio of 40.76, a P/E/G ratio of 4.31 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.07 and a quick ratio of 0.57. The company has a 50 day moving average price of $564.00 and a two-hundred day moving average price of $542.66.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Tuesday, September 26th. The retailer reported $4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.79 by $0.07. Costco Wholesale had a net margin of 2.60% and a return on equity of 28.10%. The firm had revenue of $78.94 billion for the quarter, compared to the consensus estimate of $77.72 billion. During the same quarter in the previous year, the firm posted $4.20 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts predict that Costco Wholesale Co. will post 15.71 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 3rd were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Thursday, November 2nd. Costco Wholesale’s payout ratio is currently 28.81%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COST. Roth Mkm raised their target price on shares of Costco Wholesale from $482.00 to $502.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 27th. Raymond James raised their target price on shares of Costco Wholesale from $570.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 27th. Telsey Advisory Group restated an “outperform” rating and set a $600.00 target price on shares of Costco Wholesale in a research report on Monday, October 30th. BMO Capital Markets raised their target price on shares of Costco Wholesale from $600.00 to $612.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 27th. Finally, Argus raised their target price on shares of Costco Wholesale from $630.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Six investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $586.43.

Insider Transactions at Costco Wholesale

In other news, CFO Richard A. Galanti sold 2,000 shares of Costco Wholesale stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $566.09, for a total value of $1,132,180.00. Following the completion of the transaction, the chief financial officer now directly owns 25,412 shares of the company’s stock, valued at approximately $14,385,479.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Caton Frates sold 1,200 shares of Costco Wholesale stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $562.64, for a total value of $675,168.00. Following the completion of the transaction, the executive vice president now directly owns 8,363 shares of the company’s stock, valued at approximately $4,705,358.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard A. Galanti sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $566.09, for a total transaction of $1,132,180.00. Following the transaction, the chief financial officer now directly owns 25,412 shares of the company’s stock, valued at $14,385,479.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,265 shares of company stock valued at $10,797,118. Insiders own 0.22% of the company’s stock.

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.