Sitrin Capital Management LLC Has $8.52 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Sitrin Capital Management LLC lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,609 shares of the retailer’s stock after acquiring an additional 20 shares during the period. Costco Wholesale accounts for approximately 4.3% of Sitrin Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Sitrin Capital Management LLC’s holdings in Costco Wholesale were worth $8,519,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Values Added Financial LLC lifted its stake in Costco Wholesale by 4.7% in the third quarter. Values Added Financial LLC now owns 1,312 shares of the retailer’s stock worth $1,163,000 after purchasing an additional 59 shares during the last quarter. Lebenthal Global Advisors LLC lifted its stake in Costco Wholesale by 19.5% in the third quarter. Lebenthal Global Advisors LLC now owns 1,209 shares of the retailer’s stock worth $1,072,000 after purchasing an additional 197 shares during the last quarter. Pursue Wealth Partners LLC lifted its stake in Costco Wholesale by 9.9% in the third quarter. Pursue Wealth Partners LLC now owns 587 shares of the retailer’s stock worth $520,000 after purchasing an additional 53 shares during the last quarter. Focus Financial Network Inc. lifted its stake in Costco Wholesale by 0.5% in the third quarter. Focus Financial Network Inc. now owns 10,678 shares of the retailer’s stock worth $9,466,000 after purchasing an additional 55 shares during the last quarter. Finally, Jacobson & Schmitt Advisors LLC lifted its stake in Costco Wholesale by 1.4% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 16,873 shares of the retailer’s stock worth $14,959,000 after purchasing an additional 236 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the topic of a number of research reports. The Goldman Sachs Group raised their target price on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $980.00 target price (up from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a research report on Thursday, August 8th. Wells Fargo & Company lifted their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Finally, Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $894.57.

Costco Wholesale Trading Up 0.4 %

NASDAQ:COST opened at $877.31 on Friday. Costco Wholesale Co. has a 12 month low of $552.01 and a 12 month high of $923.83. The firm has a fifty day simple moving average of $892.20 and a 200-day simple moving average of $844.03. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $388.71 billion, a P/E ratio of 52.95, a PEG ratio of 5.41 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same period in the previous year, the firm posted $4.86 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. Costco Wholesale’s payout ratio is currently 28.00%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the transaction, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the transaction, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the transaction, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at $24,514,232. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,636 shares of company stock worth $11,238,510 over the last three months. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Company 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.