Public Employees Retirement Association of Colorado Sells 3,398 Shares of Costco Wholesale Co. (NASDAQ:COST)

Public Employees Retirement Association of Colorado reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 643,538 shares of the retailer’s stock after selling 3,398 shares during the quarter. Costco Wholesale accounts for approximately 1.1% of Public Employees Retirement Association of Colorado’s holdings, making the stock its 13th biggest position. Public Employees Retirement Association of Colorado owned 0.15% of Costco Wholesale worth $254,629,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in COST. Arrowstreet Capital Limited Partnership raised its stake in Costco Wholesale by 149.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,077,210 shares of the retailer’s stock valued at $379,695,000 after purchasing an additional 645,468 shares during the last quarter. California Public Employees Retirement System raised its stake in Costco Wholesale by 53.5% during the 2nd quarter. California Public Employees Retirement System now owns 1,838,438 shares of the retailer’s stock valued at $727,415,000 after purchasing an additional 640,467 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Costco Wholesale by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,113,982 shares of the retailer’s stock valued at $2,023,449,000 after purchasing an additional 593,908 shares during the last quarter. Comgest Global Investors S.A.S. raised its stake in Costco Wholesale by 444.7% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 480,854 shares of the retailer’s stock valued at $190,260,000 after purchasing an additional 392,581 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Costco Wholesale by 21.2% during the 2nd quarter. Bank of Montreal Can now owns 1,957,544 shares of the retailer’s stock valued at $781,236,000 after purchasing an additional 342,513 shares during the last quarter. Hedge funds and other institutional investors own 66.96% of the company’s stock.

Shares of NASDAQ COST traded up $5.94 during midday trading on Thursday, reaching $451.24. The company’s stock had a trading volume of 32,146 shares, compared to its average volume of 2,234,364. Costco Wholesale Co. has a fifty-two week low of $307.00 and a fifty-two week high of $470.49. The company has a current ratio of 1.00, a quick ratio of 0.50 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $453.08 and a 200-day simple moving average of $410.08. The stock has a market capitalization of $199.37 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 4.35 and a beta of 0.66.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Wednesday, September 22nd. The retailer reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.33. Costco Wholesale had a net margin of 2.53% and a return on equity of 27.30%. The business had revenue of $61.44 billion during the quarter, compared to analysts’ expectations of $61.45 billion. During the same period last year, the business earned $3.13 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. As a group, equities analysts anticipate that Costco Wholesale Co. will post 10.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Friday, October 29th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 0.70%. Costco Wholesale’s dividend payout ratio (DPR) is 35.71%.

In other Costco Wholesale news, VP Joseph P. Portera sold 3,287 shares of Costco Wholesale stock in a transaction on Friday, August 13th. The shares were sold at an average price of $445.50, for a total transaction of $1,464,358.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

A number of brokerages have recently issued reports on COST. Raymond James increased their price objective on shares of Costco Wholesale from $460.00 to $490.00 and gave the company an “outperform” rating in a research note on Friday, September 24th. Robert W. Baird increased their price objective on shares of Costco Wholesale from $500.00 to $520.00 and gave the company an “outperform” rating in a research note on Friday, September 24th. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 price objective for the company in a research note on Monday, September 6th. DA Davidson increased their price objective on shares of Costco Wholesale from $390.00 to $423.00 and gave the company a “neutral” rating in a research note on Friday, September 24th. Finally, Wells Fargo & Company increased their price objective on shares of Costco Wholesale from $415.00 to $480.00 and gave the company an “overweight” rating in a research note on Thursday, August 5th. Seven equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Buy” and an average target price of $469.83.

About Costco Wholesale

Costco Wholesale Corp. engages in the operation of membership warehouses. The firm’s product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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