Altus Wealth Management LLC Invests $200,000 in Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

Altus Wealth Management LLC bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 226 shares of the retailer’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors have also modified their holdings of COST. Redmont Wealth Advisors LLC bought a new stake in Costco Wholesale in the first quarter valued at about $32,000. Financial Connections Group Inc. grew its holdings 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 purchasing an additional 39 shares during the last quarter. Bank & Trust Co bought a new position in shares of Costco Wholesale during the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. grew its holdings in shares of Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Costco Wholesale during the second quarter valued at approximately $50,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

COST stock traded down $1.08 during mid-day trading on Friday, reaching $884.21. 267,049 shares of the stock traded hands, compared to its average volume of 1,938,296. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. The business has a 50-day moving average of $888.57 and a two-hundred day moving average of $831.04. The firm has a market capitalization of $392.00 billion, a PE ratio of 54.85, a P/E/G ratio of 5.53 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter last year, the company earned $4.86 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts predict that Costco Wholesale Co. will post 17.73 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Wall Street Analyst Weigh In

Several research firms have recently commented on COST. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a report on Thursday. The Goldman Sachs Group boosted their price objective on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a research report on Thursday, August 8th. 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. Finally, Evercore ISI boosted their price objective on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $890.07.

View Our Latest Stock Analysis on Costco Wholesale

Insider Buying and Selling

In related news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the transaction, the executive vice president now owns 10,210 shares of the company’s stock, valued at $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the sale, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the sale, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,224 shares of company stock valued at $9,974,973 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

About Costco Wholesale

(Free Report)

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.

Further Reading