Concentric Wealth Management LLC trimmed its position in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,574 shares of the retailer’s stock after selling 439 shares during the period. Costco Wholesale comprises about 1.4% of Concentric Wealth Management LLC’s portfolio, making the stock its 26th largest holding. Concentric Wealth Management LLC’s holdings in Costco Wholesale were worth $5,828,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in COST. International Assets Investment Management LLC increased its holdings in shares of Costco Wholesale by 113,947.9% in the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after purchasing an additional 7,364,453 shares during the last quarter. Wulff Hansen & CO. raised its holdings in shares of Costco Wholesale by 99,208.6% during the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock worth $1,253,508,000 after acquiring an additional 1,473,248 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Costco Wholesale by 287.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after acquiring an additional 620,341 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Costco Wholesale by 51,747.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after purchasing an additional 618,383 shares during the period. Finally, Swedbank AB acquired a new stake in Costco Wholesale in the 1st quarter valued at approximately $285,618,000. Institutional investors and hedge funds own 68.48% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Redburn Atlantic cut 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 research note on Tuesday, September 10th. DA Davidson reiterated a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a research note on Thursday, October 10th. Barclays boosted their price objective on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Tigress Financial reaffirmed a “buy” rating and issued a $1,065.00 target price on shares of Costco Wholesale in a report on Thursday, October 17th. Finally, Truist Financial cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a report on Tuesday, September 24th. Ten equities research 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $908.81.
Insiders Place Their Bets
In other news, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction 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 $9,091,512.30. This represents a 30.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,016 shares of company stock valued at $9,826,115. Corporate insiders own 0.18% of the company’s stock.
Costco Wholesale Stock Up 0.9 %
COST opened at $964.01 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The company 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 one year low of $582.83 and a one year high of $976.30. The business’s fifty day moving average is $901.18 and its two-hundred day moving average is $866.19.
Costco Wholesale (NASDAQ:COST – Get Free Report) last released 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 for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the firm earned $4.86 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.
Costco Wholesale Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s 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.
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