Harbour Investments Inc. lowered its holdings in Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 12.6% in the third quarter, HoldingsChannel.com reports. The firm owned 14,476 shares of the retailer’s stock after selling 2,095 shares during the quarter. Harbour Investments Inc.’s holdings in Costco Wholesale were worth $13,178,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in COST. IFG Advisory LLC increased its holdings in shares of Costco Wholesale by 12.3% during the third quarter. IFG Advisory LLC now owns 2,589 shares of the retailer’s stock worth $2,357,000 after purchasing an additional 284 shares during the period. Trillium Asset Management LLC raised its position in shares of Costco Wholesale by 5.4% in the third quarter. Trillium Asset Management LLC now owns 48,980 shares of the retailer’s stock valued at $44,591,000 after buying an additional 2,489 shares in the last quarter. Seaside Wealth Management Inc. raised its position in shares of Costco Wholesale by 14.3% in the third quarter. Seaside Wealth Management Inc. now owns 535 shares of the retailer’s stock valued at $487,000 after buying an additional 67 shares in the last quarter. AlTi Global Inc. boosted its stake in shares of Costco Wholesale by 26.1% in the third quarter. AlTi Global Inc. now owns 3,304 shares of the retailer’s stock valued at $3,008,000 after buying an additional 684 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Costco Wholesale by 24.8% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 191 shares of the retailer’s stock valued at $174,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.
Insiders Place Their Bets
In other news, EVP Sarah Catherine George sold 756 shares of Costco Wholesale stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $1,096.01, for a total value of $828,583.56. Following the transaction, the executive vice president owned 3,112 shares in the company, valued at approximately $3,410,783.12. This trade represents a 19.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Richard Wilcox sold 1,100 shares of the business’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $958.21, for a total value of $1,054,031.00. Following the transaction, the executive vice president directly owned 3,094 shares of the company’s stock, valued at $2,964,701.74. This trade represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,956 shares of company stock worth $4,873,216. 0.10% of the stock is owned by company insiders.
Costco Wholesale Price Performance
COST stock traded up $14.00 during mid-day trading on Friday, hitting $1,106.21. The stock had a trading volume of 1,873,135 shares, compared to its average volume of 2,385,142. The company has a current ratio of 1.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,109.50. The firm has a market capitalization of $490.19 billion, a P/E ratio of 53.29, a P/E/G ratio of 4.82 and a beta of 0.85. The firm has a fifty day simple moving average of $967.12 and a 200 day simple moving average of $975.13.
Costco Wholesale (NASDAQ:COST – Get Free Report) last issued its earnings results on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, beating the consensus estimate of $6.54 by $0.21. Costco Wholesale had a net margin of 3.04% and a return on equity of 27.60%. The company had revenue of $95.72 billion during the quarter, compared to analysts’ expectations of $94.97 billion. During the same period in the previous year, the company earned $5.87 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that Costco Wholesale Corporation will post 22.70 EPS for the current year.
Costco Wholesale Dividend Announcement
The firm also recently announced a special dividend, which will be paid on Friday, December 4th. Shareholders of record on Tuesday, November 24th will be paid a dividend of $30.00 per share. The ex-dividend date is Tuesday, November 24th. Costco Wholesale’s dividend payout ratio is presently 28.32%.
Latest Costco Wholesale News
Here’s some of the latest news about COST:
- Positive Sentiment: Costco declared a one-time $30-per-share special dividend, totaling about $13.3 billion and payable December 4, and authorized a new $4 billion share repurchase program. The capital returns are supporting investor demand and underscore the company’s cash-generation strength. Article: Costco’s Record $30 Dividend Shows Just How Strong Its Cash Machine Is
- Positive Sentiment: Costco’s recent sales growth and strong membership-focused business have helped fuel optimism ahead of its next quarterly results, scheduled for December 10. Article: Costco Hits All-Time High Amid $4 Billion Buyback, Special Dividend
- Negative Sentiment: Commentary cautions that Costco’s valuation is elevated, potentially limiting upside if growth or results fall short of high expectations. Article: Does Costco’s Special Dividend Offer Enough Reason to Buy the Stock?
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on COST shares. Jefferies Financial Group reduced their price target on Costco Wholesale from $1,130.00 to $1,100.00 in a research report on Friday, September 25th. Roth Capital restated a “sell” rating and set a $781.00 price objective on shares of Costco Wholesale in a research note on Friday, September 25th. HSBC raised Costco Wholesale to a “buy” rating in a report on Friday, September 25th. Evercore reiterated an “outperform” rating on shares of Costco Wholesale in a research report on Tuesday, September 22nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,092.23.
Check Out Our Latest Stock Analysis on Costco Wholesale
Costco Wholesale Profile
Costco Wholesale Corporation operates membership-based warehouse clubs that offer a broad selection of merchandise at generally low prices. Its products include groceries, fresh foods, appliances, electronics, apparel, furniture, and household goods, as well as its Kirkland Signature private-label line. The company also provides services such as gasoline stations, pharmacies, optical and hearing-aid centers, food courts, and travel offerings. Costco serves members through warehouses and online channels.
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Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST – Free Report).
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