Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 58.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,420 shares of the retailer’s stock after selling 4,870 shares during the quarter. Edgestream Partners L.P.’s holdings in Costco Wholesale were worth $3,032,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Costco Wholesale by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock worth $2,489,574,000 after acquiring an additional 32,074 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in shares of Costco Wholesale by 62.8% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after buying an additional 932 shares during the period. Nwam LLC acquired a new stake in shares of Costco Wholesale in the third quarter valued at $20,056,000. Hudson Value Partners LLC lifted its holdings in shares of Costco Wholesale by 7.6% in the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock valued at $7,133,000 after buying an additional 568 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in shares of Costco Wholesale by 66.9% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock valued at $2,738,000 after buying an additional 1,238 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In related news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the sale, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. This represents a 27.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 10,202 shares of the company’s stock, 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 quarter, insiders sold 11,016 shares of company stock worth $9,826,115. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. The Goldman Sachs Group upped their price objective on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Redburn Atlantic lowered Costco Wholesale from a “buy” rating to a “neutral” rating and upped their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a report on Tuesday, September 24th. Finally, Evercore ISI upped their target price on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $908.81.

Costco Wholesale Stock Performance

Shares of COST stock opened at $971.88 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. Costco Wholesale Co. has a fifty-two week low of $582.83 and a fifty-two week high of $976.30. The stock’s 50-day moving average is $907.62 and its two-hundred day moving average is $872.68. The firm has a market cap of $430.61 billion, a P/E ratio of 58.65, a PEG ratio of 6.00 and a beta of 0.80.

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, topping the consensus estimate of $5.05 by $0.10. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.86 EPS. Analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

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.