304 Shares in Costco Wholesale Co. (NASDAQ:COST) Acquired by Rovin Capital UT ADV

Rovin Capital UT ADV acquired a new position in Costco Wholesale Co. (NASDAQ:COST) in the third quarter, HoldingsChannel reports. The institutional investor acquired 304 shares of the retailer’s stock, valued at approximately $269,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Connections Group Inc. grew its holdings in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in Costco Wholesale during the 2nd quarter valued at approximately $48,000. Ruedi Wealth Management Inc. increased its stake in Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Costco Wholesale in the second quarter valued at $50,000. Finally, Fairway Wealth LLC lifted its position in Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after purchasing an additional 46 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

Shares of COST stock opened at $943.80 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock has a market cap of $418.17 billion, a PE ratio of 56.96, a price-to-earnings-growth ratio of 5.53 and a beta of 0.80. The business has a 50-day simple moving average of $893.49 and a 200-day simple moving average of $850.73. Costco Wholesale Co. has a 52-week low of $562.01 and a 52-week high of $962.00.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm 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 firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.49%. Costco Wholesale’s payout ratio is currently 28.00%.

Wall Street Analyst Weigh In

COST has been the subject of a number of analyst reports. Morgan Stanley increased their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Oppenheimer lifted their target price on Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Evercore ISI boosted their target price on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. TD Cowen raised their price target on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Truist Financial cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective on the stock. in a research report on Tuesday, September 24th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $905.30.

Insider Buying and Selling at Costco Wholesale

In other news, Director Susan L. Decker sold 620 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,636 shares of company stock worth $11,238,510. Corporate 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.