Jackson Square Capital LLC Sells 2,775 Shares of Costco Wholesale Corporation $COST

Jackson Square Capital LLC cut its stake in Costco Wholesale Corporation (NASDAQ:COST) by 40.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,133 shares of the retailer’s stock after selling 2,775 shares during the period. Jackson Square Capital LLC’s holdings in Costco Wholesale were worth $3,762,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Costco Wholesale by 31.7% in the second quarter. State Street Corp now owns 23,901,594 shares of the retailer’s stock worth $22,359,224,000 after purchasing an additional 5,749,362 shares during the period. Bank of America Corp DE lifted its position in Costco Wholesale by 11.5% during the first quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer’s stock worth $7,488,203,000 after purchasing an additional 773,651 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Costco Wholesale by 5.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,068,312 shares of the retailer’s stock worth $2,870,314,000 after purchasing an additional 160,893 shares during the period. Amundi lifted its position in Costco Wholesale by 11.1% during the first quarter. Amundi now owns 2,839,016 shares of the retailer’s stock worth $2,828,881,000 after purchasing an additional 283,360 shares during the period. Finally, Ascentis Wealth Management LLC grew its stake in Costco Wholesale by 103,637.0% during the second quarter. Ascentis Wealth Management LLC now owns 2,500,062 shares of the retailer’s stock worth $2,549,616,000 after buying an additional 2,497,652 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, EVP William Richard Wilcox sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total value of $1,054,031.00. Following the sale, the executive vice president owned 3,094 shares in the company, valued at $2,964,701.74. This trade represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Claudine Adamo sold 2,200 shares of the business’s 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 sale, the executive vice president directly owned 7,134 shares in the company, valued at approximately $6,534,244.62. The trade was a 23.57% decrease in their position. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial decreased their target price on shares of Costco Wholesale from $1,011.00 to $955.00 and set a “hold” rating on the stock in a report on Friday, September 25th. Roth Capital restated a “sell” rating and issued a $781.00 target price on shares of Costco Wholesale in a research report on Friday, September 25th. Bank of America cut their price target on shares of Costco Wholesale from $1,200.00 to $1,095.00 and set a “buy” rating for the company in a report on Wednesday, September 16th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research report on Friday, October 9th. Finally, Sanford C. Bernstein decreased their price objective on shares of Costco Wholesale from $1,144.00 to $1,143.00 and set an “outperform” rating on the stock in a research note on Friday, September 25th. Twenty-four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $1,087.40.

Costco Wholesale Price Performance

Costco Wholesale stock traded up $4.81 during midday trading on Monday, reaching $993.92. The company’s stock had a trading volume of 612,861 shares, compared to its average volume of 2,187,307. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,096.50. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $933.15 and a 200-day moving average price of $963.04. The stock has a market cap of $440.43 billion, a PE ratio of 47.84, a price-to-earnings-growth ratio of 4.23 and a beta of 0.88.

Costco Wholesale (NASDAQ:COST) last issued its 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. The firm had revenue of $95.72 billion during the quarter, compared to the consensus estimate of $94.97 billion. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.87 earnings per share. On average, sell-side analysts predict that Costco Wholesale Corporation will post 22.70 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s payout ratio is 28.32%.

About Costco Wholesale

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.

Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.

The company traces its roots to Price Club, which opened in San Diego in 1976.