Costco Wholesale Co. (NASDAQ:COST) is Buffington Mohr McNeal’s 6th Largest Position

Buffington Mohr McNeal trimmed its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,098 shares of the retailer’s stock after selling 414 shares during the period. Costco Wholesale accounts for about 4.1% of Buffington Mohr McNeal’s investment portfolio, making the stock its 6th biggest holding. Buffington Mohr McNeal’s holdings in Costco Wholesale were worth $15,655,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Winslow Capital Management LLC purchased a new position in Costco Wholesale during the 2nd quarter valued at about $178,629,000. FMR LLC raised its holdings in Costco Wholesale by 4.8% in the second quarter. FMR LLC now owns 12,077,579 shares of the retailer’s stock worth $3,662,043,000 after buying an additional 551,799 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Costco Wholesale by 15.5% in the second quarter. Principal Financial Group Inc. now owns 1,797,829 shares of the retailer’s stock worth $545,119,000 after buying an additional 240,891 shares during the last quarter. APG Asset Management N.V. raised its holdings in Costco Wholesale by 23.6% in the first quarter. APG Asset Management N.V. now owns 1,190,432 shares of the retailer’s stock worth $339,428,000 after buying an additional 227,077 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Costco Wholesale by 6.7% in the second quarter. Fisher Asset Management LLC now owns 3,282,895 shares of the retailer’s stock worth $995,407,000 after buying an additional 206,856 shares during the last quarter. 68.20% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP James C. Klauer sold 4,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $342.72, for a total value of $1,370,880.00. Following the transaction, the executive vice president now owns 49,402 shares of the company’s stock, valued at $16,931,053.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard A. Galanti sold 1,754 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $605,130.00. Following the completion of the transaction, the chief financial officer now directly owns 18,983 shares in the company, valued at approximately $6,549,135. The disclosure for this sale can be found here. Insiders have sold 15,804 shares of company stock worth $5,460,267 in the last ninety days. Insiders own 0.22% of the company’s stock.

NASDAQ:COST traded up $2.01 during trading hours on Tuesday, hitting $372.72. 1,356,083 shares of the stock traded hands, compared to its average volume of 2,844,937. The company has a quick ratio of 0.64, a current ratio of 1.13 and a debt-to-equity ratio of 0.40. Costco Wholesale Co. has a 1 year low of $271.28 and a 1 year high of $384.87. The company has a market cap of $164.45 billion, a price-to-earnings ratio of 41.32, a price-to-earnings-growth ratio of 4.60 and a beta of 0.69. The stock has a 50 day moving average price of $357.24 and a 200 day moving average price of $327.33.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 24th. The retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. Costco Wholesale had a net margin of 2.40% and a return on equity of 22.71%. The business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $52.03 billion. During the same quarter in the previous year, the firm earned $2.69 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities analysts forecast that Costco Wholesale Co. will post 9.6 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, October 29th. Costco Wholesale’s dividend payout ratio is currently 31.64%.

Several research analysts have issued reports on COST shares. Raymond James lifted their target price on shares of Costco Wholesale from $355.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, September 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Costco Wholesale from $305.00 to $310.00 and gave the stock a “hold” rating in a report on Thursday, October 8th. They noted that the move was a valuation call. Cowen lifted their target price on shares of Costco Wholesale from $370.00 to $410.00 in a report on Wednesday, September 2nd. DA Davidson started coverage on shares of Costco Wholesale in a report on Friday, August 14th. They issued a “neutral” rating and a $363.00 target price for the company. Finally, Citigroup lifted their price target on shares of Costco Wholesale from $345.00 to $365.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $368.54.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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

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