Truvestments Capital LLC Has $2.69 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Truvestments Capital LLC increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 163.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,035 shares of the retailer’s stock after acquiring an additional 1,883 shares during the quarter. Truvestments Capital LLC’s holdings in Costco Wholesale were worth $2,690,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of COST. Loomis Sayles & Co. L P boosted its position in shares of Costco Wholesale by 1.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 353,454 shares of the retailer’s stock worth $313,344,000 after purchasing an additional 5,253 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in Costco Wholesale by 44.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 32,858 shares of the retailer’s stock worth $29,114,000 after acquiring an additional 10,054 shares in the last quarter. Prosperity Financial Group Inc. boosted its holdings in Costco Wholesale by 6.1% in the third quarter. Prosperity Financial Group Inc. now owns 3,149 shares of the retailer’s stock worth $2,792,000 after acquiring an additional 180 shares in the last quarter. Fisher Asset Management LLC grew its stake in Costco Wholesale by 2.7% in the third quarter. Fisher Asset Management LLC now owns 3,034,491 shares of the retailer’s stock valued at $2,690,138,000 after acquiring an additional 78,590 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Costco Wholesale by 19.0% during the third quarter. Daiwa Securities Group Inc. now owns 105,621 shares of the retailer’s stock valued at $93,635,000 after acquiring an additional 16,836 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was 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 in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. The trade was a 30.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,016 shares of company stock valued at $9,826,115. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COST. Barclays lifted their price target on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Roth Mkm lifted their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price on the stock. in a report on Tuesday, September 24th. Evercore ISI lifted their price target on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Melius Research started coverage on Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $908.81.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $970.00 on Monday. 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 stock has a fifty day simple moving average of $901.18 and a two-hundred day simple moving average of $866.19. Costco Wholesale Co. has a 1-year low of $582.83 and a 1-year high of $976.30. The firm has a market cap of $429.78 billion, a price-to-earnings ratio of 58.18, a price-to-earnings-growth ratio of 5.95 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its 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. The business had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.86 EPS. Analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.48%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

About Costco Wholesale

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.