Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Diversify Wealth Management LLC

Diversify Wealth Management LLC reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,835 shares of the retailer’s stock after selling 314 shares during the quarter. Diversify Wealth Management LLC’s holdings in Costco Wholesale were worth $7,045,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of COST. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after acquiring an additional 932 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its stake in shares of Costco Wholesale by 66.9% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock worth $2,738,000 after purchasing an additional 1,238 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Costco Wholesale by 52.1% during the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after purchasing an additional 2,620 shares during the last quarter. Patton Fund Management Inc. acquired a new stake in shares of Costco Wholesale during the third quarter worth $6,424,000. Finally, WestHill Financial Advisors Inc. grew its position in Costco Wholesale by 328.4% in the 3rd quarter. WestHill Financial Advisors Inc. now owns 1,435 shares of the retailer’s stock valued at $1,272,000 after buying an additional 1,100 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COST has been the subject of several recent analyst reports. Melius Research started coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price for the company. Bank of America raised their price objective on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Wells Fargo & Company boosted their target price on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Stifel Nicolaus raised their price target on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $980.00 price objective (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $894.57.

Costco Wholesale Stock Down 0.9 %

Shares of NASDAQ:COST opened at $879.09 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $389.50 billion, a P/E ratio of 53.05, a P/E/G ratio of 5.48 and a beta of 0.80. Costco Wholesale Co. has a 52-week low of $549.06 and a 52-week high of $923.83. The stock’s fifty day simple moving average is $892.30 and its 200-day simple moving average is $842.70.

Costco Wholesale (NASDAQ:COST) last released 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. The company had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $4.86 EPS. As a group, equities research analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share 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. Shareholders of record on Friday, November 1st will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio is presently 28.00%.

Insider Transactions at Costco Wholesale

In related news, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,636 shares of company stock worth $11,238,510 over the last quarter. 0.18% of the stock is currently owned by insiders.

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.