Private Advisor Group LLC Acquires 10,881 Shares of Costco Wholesale Co. (COST)

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Private Advisor Group LLC grew its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 65.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,446 shares of the retailer’s stock after acquiring an additional 10,881 shares during the period. Private Advisor Group LLC’s holdings in Costco Wholesale were worth $6,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of COST. MUFG Securities EMEA plc purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at $103,000. Parkside Investments LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at $105,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at $119,000. Capital Advisors Ltd. LLC lifted its stake in shares of Costco Wholesale by 180.0% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock valued at $132,000 after buying an additional 360 shares in the last quarter. Finally, Legacy Advisors LLC lifted its stake in shares of Costco Wholesale by 632.9% during the 3rd quarter. Legacy Advisors LLC now owns 579 shares of the retailer’s stock valued at $136,000 after buying an additional 500 shares in the last quarter. 71.65% of the stock is owned by hedge funds and other institutional investors.

Shares of COST stock opened at $236.71 on Wednesday. The firm has a market capitalization of $100.86 billion, a price-to-earnings ratio of 34.66, a P/E/G ratio of 2.94 and a beta of 0.91. Costco Wholesale Co. has a 52 week low of $164.60 and a 52 week high of $245.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.46 and a current ratio of 1.02.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, topping the consensus estimate of $2.34 by $0.02. The business had revenue of $44.41 billion for the quarter, compared to analysts’ expectations of $44.17 billion. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.08 EPS. As a group, equities analysts expect that Costco Wholesale Co. will post 7.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, November 8th. Costco Wholesale’s dividend payout ratio is 33.38%.

A number of research analysts recently weighed in on COST shares. Loop Capital lifted their target price on shares of Costco Wholesale to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Wells Fargo & Co lifted their target price on shares of Costco Wholesale from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, July 12th. Raymond James lifted their target price on shares of Costco Wholesale from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, July 17th. BidaskClub cut shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 19th. Finally, Citigroup boosted their price target on shares of Costco Wholesale from $222.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. Nine investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $237.94.

In other news, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $233.14, for a total transaction of $699,420.00. Following the sale, the director now directly owns 8,654 shares in the company, valued at approximately $2,017,593.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Franz E. Lazarus sold 23,000 shares of the company’s stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $226.76, for a total transaction of $5,215,480.00. Following the sale, the vice president now owns 6,830 shares in the company, valued at $1,548,770.80. The disclosure for this sale can be found here. Insiders have sold a total of 64,312 shares of company stock worth $14,547,272 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

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Costco Wholesale Profile

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.

Further Reading: What is an Initial Public Offering (IPO)?

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

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