Cim Investment Management Inc. Raises Stock Position in Costco Wholesale Corporation $COST

Cim Investment Management Inc. grew its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 99.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,359 shares of the retailer’s stock after acquiring an additional 2,675 shares during the period. Costco Wholesale comprises approximately 1.0% of Cim Investment Management Inc.’s investment portfolio, making the stock its 18th biggest holding. Cim Investment Management Inc.’s holdings in Costco Wholesale were worth $5,107,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of COST. Bulwark Capital Corp purchased a new stake in Costco Wholesale in the second quarter worth about $25,000. Soundwatch Capital LLC increased its position in Costco Wholesale by 635.7% during the 2nd quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer’s stock valued at $25,000 after purchasing an additional 2,206 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $31,000. Anderson Financial Strategies LLC raised its holdings in shares of Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after purchasing an additional 36 shares in the last quarter. Finally, Financial Connections Group Inc. lifted its position in shares of Costco Wholesale by 975.0% in the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after purchasing an additional 39 shares during the period. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 0.0%

Shares of COST stock opened at $884.47 on Monday. The stock’s fifty day moving average price is $916.22 and its 200 day moving average price is $950.20. Costco Wholesale Corporation has a 1-year low of $867.12 and a 1-year high of $1,078.23. The company has a market cap of $392.67 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 5.99 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.04 and a quick ratio of 0.53.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, December 11th. The retailer reported $4.34 earnings per share for the quarter, topping the consensus estimate of $4.27 by $0.07. Costco Wholesale had a return on equity of 29.35% and a net margin of 2.96%.The business had revenue of $67.31 billion during the quarter, compared to the consensus estimate of $67.03 billion. During the same quarter last year, the company earned $4.04 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were paid a $1.30 dividend. The ex-dividend date was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is 27.85%.

Analyst Ratings Changes

Several brokerages recently issued reports on COST. Daiwa Capital Markets cut their price objective on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Costco Wholesale in a research report on Monday, December 8th. BTIG Research initiated coverage on Costco Wholesale in a research note on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 price objective for the company. Robert W. Baird dropped their price objective on Costco Wholesale from $1,125.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Evercore ISI cut their target price on Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Eighteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $998.70.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the transaction, the executive vice president owned 9,740 shares in the company, valued at approximately $8,912,100. This represents a 25.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William Richard Wilcox sold 2,400 shares of Costco Wholesale stock in a transaction on Friday, November 7th. The stock was sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the sale, the executive vice president owned 2,000 shares of the company’s stock, valued at $1,860,260. The trade was a 54.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,720 shares of company stock worth $9,010,257 in the last quarter. 0.10% of the stock is currently owned by company insiders.

About Costco Wholesale

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.