Sequoia Financial Advisors LLC decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 8.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,379 shares of the retailer’s stock after selling 226 shares during the period. Sequoia Financial Advisors LLC’s holdings in Costco Wholesale were worth $685,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in COST. Krane Funds Advisors LLC bought a new position in Costco Wholesale during the second quarter valued at approximately $26,000. Massey Quick Simon & CO. LLC bought a new position in Costco Wholesale during the second quarter valued at approximately $27,000. Cerebellum GP LLC bought a new position in Costco Wholesale during the third quarter valued at approximately $32,000. Princeton Global Asset Management LLC boosted its stake in Costco Wholesale by 88.6% during the second quarter. Princeton Global Asset Management LLC now owns 132 shares of the retailer’s stock valued at $35,000 after buying an additional 62 shares during the last quarter. Finally, Enterprise Trust & Investment Co boosted its stake in Costco Wholesale by 171.7% during the third quarter. Enterprise Trust & Investment Co now owns 125 shares of the retailer’s stock valued at $36,000 after buying an additional 79 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.
COST stock traded down $1.57 during midday trading on Wednesday, reaching $298.40. 784,889 shares of the company traded hands, compared to its average volume of 2,179,429. Costco Wholesale Co. has a 52-week low of $189.51 and a 52-week high of $307.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 1.01. The business has a 50 day moving average of $293.72 and a 200-day moving average of $269.27. The firm has a market capitalization of $132.37 billion, a price-to-earnings ratio of 36.43, a P/E/G ratio of 4.12 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.15. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. The firm had revenue of $47.50 billion for the quarter, compared to the consensus estimate of $47.71 billion. During the same period in the prior year, the business posted $2.36 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts anticipate that Costco Wholesale Co. will post 8.6 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.65 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.87%. Costco Wholesale’s payout ratio is 31.75%.
In other news, VP Paul G. Moulton sold 5,976 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $298.06, for a total value of $1,781,206.56. Following the sale, the vice president now directly owns 36,010 shares in the company, valued at $10,733,140.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan L. Decker sold 333 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $297.50, for a total value of $99,067.50. Following the completion of the sale, the director now owns 41,470 shares in the company, valued at $12,337,325. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,317 shares of company stock worth $2,185,194. Company insiders own 0.21% of the company’s stock.
COST has been the subject of a number of research reports. Loop Capital increased their price target on Costco Wholesale to $330.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Northcoast Research lowered Costco Wholesale from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 16th. Goldman Sachs Group initiated coverage on Costco Wholesale in a research note on Thursday, July 11th. They set a “buy” rating and a $290.00 price target for the company. Robert W. Baird set a $325.00 price target on Costco Wholesale and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Bank of America increased their price target on Costco Wholesale from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Costco Wholesale has an average rating of “Buy” and an average target price of $293.13.
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.
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