Peterson Wealth Management Raises Holdings in Costco Wholesale Co. (NASDAQ:COST)

Peterson Wealth Management increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,297 shares of the retailer’s stock after purchasing an additional 37 shares during the quarter. Costco Wholesale makes up about 4.1% of Peterson Wealth Management’s investment portfolio, making the stock its 6th biggest holding. Peterson Wealth Management’s holdings in Costco Wholesale were worth $6,469,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC bought a new position in shares of Costco Wholesale in the third quarter valued at $29,000. Financial Connections Group Inc. lifted its stake in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares during the last quarter. Bank & Trust Co bought a new position in shares of Costco Wholesale in the 2nd quarter valued at about $48,000. Ruedi Wealth Management Inc. increased its stake 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 worth $50,000 after purchasing an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $50,000. Institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COST. DA Davidson restated a “neutral” rating and issued a $880.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Oppenheimer lifted their price objective on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Evercore ISI increased their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Loop Capital lifted their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $908.81.

Insiders Place Their Bets

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

Costco Wholesale Price Performance

Costco Wholesale stock opened at $961.55 on Friday. The stock has a fifty day moving average of $906.32 and a 200-day moving average of $870.06. The stock has a market capitalization of $426.03 billion, a P/E ratio of 58.03, a price-to-earnings-growth ratio of 5.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a 52 week low of $582.83 and a 52 week high of $976.30.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion during 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 business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.86 earnings per share. On average, sell-side analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.48%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

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.