Cim LLC Has $19.73 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Cim LLC increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 35.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,265 shares of the retailer’s stock after purchasing an additional 5,879 shares during the quarter. Costco Wholesale makes up approximately 2.9% of Cim LLC’s portfolio, making the stock its 11th largest position. Cim LLC’s holdings in Costco Wholesale were worth $19,726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale in the 1st quarter valued at $32,000. Vima LLC bought a new position in Costco Wholesale in the 4th quarter worth $34,000. Financial Connections Group Inc. lifted its position in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the last quarter. Finally, Bank & Trust Co acquired a new stake in shares of Costco Wholesale in the second quarter valued at about $48,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock valued at $4,252,856 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Evercore ISI increased their price objective on Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. The Goldman Sachs Group increased their price objective on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Oppenheimer raised their price target on shares of Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Morgan Stanley upped their price objective on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Wells Fargo & Company increased their price objective on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $883.04.

Costco Wholesale Stock Down 1.0 %

Shares of Costco Wholesale stock opened at $877.38 on Wednesday. The business has a 50-day moving average of $871.96 and a two-hundred day moving average of $819.44. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The company has a market capitalization of $388.97 billion, a P/E ratio of 54.36, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter in the prior year, the company earned $4.86 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts predict that Costco Wholesale Co. will post 16.02 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

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.