WealthPLAN Partners LLC Cuts Stake in Costco Wholesale Co. (NASDAQ:COST)

WealthPLAN Partners LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 23.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,689 shares of the retailer’s stock after selling 3,580 shares during the quarter. Costco Wholesale accounts for approximately 1.4% of WealthPLAN Partners LLC’s holdings, making the stock its 13th biggest position. WealthPLAN Partners LLC’s holdings in Costco Wholesale were worth $10,362,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of COST. International Assets Investment Management LLC increased its holdings in Costco Wholesale by 113,947.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after buying an additional 7,364,453 shares in the last quarter. Wulff Hansen & CO. boosted 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 valued at $1,253,508,000 after acquiring an additional 1,473,248 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Costco Wholesale by 287.3% in the second 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 period. Strategic Financial Concepts LLC raised its holdings in shares of Costco Wholesale by 51,747.5% during the second quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock valued at $5,266,000 after purchasing an additional 618,383 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Costco Wholesale by 1.2% during the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after purchasing an additional 473,702 shares during the period. Institutional investors own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a report on Monday, November 4th. Wells Fargo & Company increased their target price on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Morgan Stanley boosted their price target on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Roth Mkm increased their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $905.30.

Insider Activity

In related news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction 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 sale, 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 Securities & Exchange Commission, which is available through this link. In related news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at $9,155,409.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,136 shares of company stock worth $10,806,570. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Stock Performance

COST opened at $932.88 on Tuesday. The stock has a market capitalization of $413.33 billion, a price-to-earnings ratio of 56.30, a PEG ratio of 5.81 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $572.24 and a fifty-two week high of $962.00. 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 fifty day moving average of $893.49 and a 200 day moving average of $852.53.

Costco Wholesale (NASDAQ:COST) last issued its 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. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same period in the previous year, the firm posted $4.86 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $1.16 per share. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Costco Wholesale Company Profile

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.