Prosperity Financial Group Inc. Has $2.79 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Prosperity Financial Group Inc. lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,149 shares of the retailer’s stock after purchasing an additional 180 shares during the quarter. Costco Wholesale accounts for 1.6% of Prosperity Financial Group Inc.’s holdings, making the stock its 16th biggest holding. Prosperity Financial Group Inc.’s holdings in Costco Wholesale were worth $2,792,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of COST. Financial Connections Group Inc. raised its position in shares of Costco Wholesale by 557.1% in 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 acquired a new position in Costco Wholesale during the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. lifted its stake in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at $50,000. Finally, Fairway Wealth LLC increased its stake in shares of Costco Wholesale by 230.0% in the 2nd 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. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 27.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock valued at $9,826,115 in the last 90 days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ COST opened at $964.01 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. The firm has a market cap of $427.12 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 5.95 and a beta of 0.80. Costco Wholesale Co. has a 1 year low of $582.83 and a 1 year high of $976.30. The company has a fifty day moving average price of $901.18 and a 200-day moving average price of $866.19.

Costco Wholesale (NASDAQ:COST) last issued 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. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same quarter last year, the business posted $4.86 EPS. Costco Wholesale’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COST. Roth Mkm upped their price objective on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Wells Fargo & Company raised their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a research report on Monday, November 4th. Loop Capital raised their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target for the company in a report on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $908.81.

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.