Next Capital Management LLC Sells 45 Shares of Costco Wholesale Co. (NASDAQ:COST)

Next Capital Management LLC lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 12.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 321 shares of the retailer’s stock after selling 45 shares during the period. Next Capital Management LLC’s holdings in Costco Wholesale were worth $273,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Frank Rimerman Advisors LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Costco Wholesale in the first quarter worth $32,000. Financial Connections Group Inc. grew its position in shares of Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Vima LLC bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $34,000. Finally, Bank & Trust Co purchased a new stake in Costco Wholesale during the 2nd quarter worth about $48,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

Shares of COST stock opened at $886.52 on Tuesday. The stock has a market cap of $393.03 billion, a PE ratio of 54.93, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. The company’s fifty day moving average price is $871.45 and its 200-day moving average price is $818.37.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. The company had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. Costco Wholesale’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.86 EPS. On average, equities analysts expect that Costco Wholesale Co. will post 16.02 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s payout ratio is 28.75%.

Analysts Set New Price Targets

A number of research analysts have weighed in on COST shares. The Goldman Sachs Group lifted their target price on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a research report on Thursday, August 8th. Robert W. Baird raised their price target on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Roth Mkm boosted their price objective on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Evercore ISI boosted their price target on shares of Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $883.04.

Insider Buying and Selling

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the firm’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 sale, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock valued at $4,252,856 over the last 90 days. Company insiders own 0.18% of the company’s stock.

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.