Costco Wholesale Co. (NASDAQ:COST) Holdings Boosted by Legacy Bridge LLC

Legacy Bridge LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,659 shares of the retailer’s stock after purchasing an additional 12 shares during the quarter. Costco Wholesale accounts for 1.3% of Legacy Bridge LLC’s investment portfolio, making the stock its 15th biggest holding. Legacy Bridge LLC’s holdings in Costco Wholesale were worth $2,357,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Financial Connections Group Inc. boosted its position in 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 purchased a new stake in shares of Costco Wholesale during the 2nd quarter worth about $48,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the 2nd quarter valued at approximately $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Costco Wholesale in the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $919.51 on Tuesday. The business has a 50-day simple moving average of $898.08 and a 200 day simple moving average of $860.94. Costco Wholesale Co. has a one year low of $577.34 and a one year high of $962.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The firm has a market capitalization of $407.41 billion, a price-to-earnings ratio of 55.49, a PEG ratio of 5.60 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating 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 analyst estimates of $79.91 billion. During the same period last year, the firm earned $4.86 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the sale, the executive vice president now owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. The trade was a 30.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,016 shares of company stock worth $9,826,115. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Evercore ISI raised their target price on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Melius Research began coverage on Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price target for the company. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research note on Thursday, August 8th. Finally, BMO Capital Markets upped their target price on Costco Wholesale from $980.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Monday. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $908.81.

Costco Wholesale 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.