Etfidea LLC Trims Stake in Costco Wholesale Co. (NASDAQ:COST)

20 Nov 2024, 13:16 by Amy Steele · The Cerbat Gem

Etfidea LLC lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 443 shares of the retailer’s stock after selling 16 shares during the quarter. Etfidea LLC’s holdings in Costco Wholesale were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling at Costco Wholesale

In related news, 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 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 approximately $9,091,512.30. This trade represents a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,016 shares of company stock valued at $9,826,115 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COST. BMO Capital Markets upped their price objective on shares of Costco Wholesale from $980.00 to $1,075.00 and gave the stock an “outperform” rating in a report on Monday. Wells Fargo & Company upped their target price on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price on the stock. Telsey Advisory Group restated an “outperform” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a research report on Monday, November 4th. Finally, Roth Mkm increased their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and an average target price of $908.81.

Read Our Latest Analysis on COST

Costco Wholesale Stock Up 1.2 %

COST stock opened at $930.15 on Wednesday. The firm’s fifty day simple moving average is $898.80 and its 200-day simple moving average is $862.25. Costco Wholesale Co. has a 12 month low of $577.34 and a 12 month high of $962.00. The company has a market capitalization of $412.12 billion, a P/E ratio of 56.13, a price-to-earnings-growth ratio of 5.60 and a beta of 0.80. 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 (NASDAQ:COST – Get Free Report) last announced its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $79.91 billion. During the same period in the prior year, the firm posted $4.86 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Costco Wholesale Profile

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