IMS Capital Management Acquires 252 Shares of Costco Wholesale Co. (NASDAQ:COST)

IMS Capital Management lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,794 shares of the retailer’s stock after acquiring an additional 252 shares during the period. Costco Wholesale accounts for approximately 1.5% of IMS Capital Management’s holdings, making the stock its 13th biggest holding. IMS Capital Management’s holdings in Costco Wholesale were worth $3,324,000 as of its most recent SEC filing.

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

Insider Transactions at Costco Wholesale

In related news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan L. Decker sold 620 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Costco Wholesale Stock Up 0.1 %

Shares of COST opened at $886.52 on Tuesday. The stock’s 50-day moving average price is $871.45 and its 200-day moving average price is $818.37. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $393.03 billion, a price-to-earnings ratio of 54.93, a PEG ratio of 5.47 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter last year, the company earned $4.86 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Costco Wholesale Co. will post 16.02 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of research reports. DA Davidson raised their target price on shares of Costco Wholesale from $780.00 to $880.00 and gave the stock a “neutral” rating in a research report on Friday. Melius Research started coverage on Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target on the stock. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a research note on Thursday, August 8th. Loop Capital increased their price target on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday. Finally, Tigress Financial lifted their price objective on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $883.04.

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.