Cardinal Point Capital Management ULC Takes Position in Costco Wholesale Co. (NASDAQ:COST)

Cardinal Point Capital Management ULC bought a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 265 shares of the retailer’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also made changes to their positions in COST. Oak Asset Management LLC increased its holdings in shares of Costco Wholesale by 0.3% during the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after buying an additional 12 shares during the last quarter. Peddock Capital Advisors LLC increased its holdings in Costco Wholesale by 0.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares in the last quarter. Bedel Financial Consulting Inc. increased its holdings in Costco Wholesale by 1.3% in the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock valued at $729,000 after purchasing an additional 13 shares in the last quarter. Boltwood Capital Management increased its holdings in Costco Wholesale by 1.7% in the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock valued at $671,000 after purchasing an additional 13 shares in the last quarter. Finally, LifePro Asset Management increased its holdings in Costco Wholesale by 3.8% in the 2nd quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock valued at $304,000 after purchasing an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several recent research reports. Barclays increased their price target on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. 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 note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their target price on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Morgan Stanley raised their target price 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, Melius Research began coverage on Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 target price for the company. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $883.04.

Insider Transactions at Costco Wholesale

In other news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now owns 5,920 shares in the company, valued at $5,041,057.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Susan L. Decker sold 620 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,174 shares of company stock worth $7,097,624 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST opened at $873.59 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The stock has a 50 day simple moving average of $875.41 and a 200 day simple moving average of $822.49. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83. The firm has a market capitalization of $387.29 billion, a PE ratio of 54.13, a P/E/G ratio of 5.34 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, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the prior year, the firm posted $4.86 EPS. The business’s revenue was up 1.0% on a year-over-year basis. Sell-side analysts predict that Costco Wholesale Co. will post 17.73 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 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.