AM Investment Strategies LLC Sells 13 Shares of Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

AM Investment Strategies LLC reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,373 shares of the retailer’s stock after selling 13 shares during the quarter. Costco Wholesale makes up about 0.7% of AM Investment Strategies LLC’s portfolio, making the stock its 23rd biggest holding. AM Investment Strategies LLC’s holdings in Costco Wholesale were worth $2,991,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in shares of 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 worth $2,143,000 after buying an additional 932 shares during the period. Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of Costco Wholesale by 66.9% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock valued at $2,738,000 after purchasing an additional 1,238 shares during the last quarter. J.W. Cole Advisors Inc. increased 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 period. Patton Fund Management Inc. acquired a new stake in Costco Wholesale during the 3rd quarter worth approximately $6,424,000. Finally, WestHill Financial Advisors Inc. boosted its stake 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 purchasing an additional 1,100 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Trading Up 0.5 %

Shares of NASDAQ:COST traded up $4.28 during mid-day trading on Friday, hitting $877.31. The company had a trading volume of 1,625,161 shares, compared to its average volume of 1,922,796. 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 company has a market capitalization of $388.71 billion, a PE ratio of 52.95, a price-to-earnings-growth ratio of 5.41 and a beta of 0.80. The firm has a fifty day moving average price of $892.20 and a 200 day moving average price of $844.03. Costco Wholesale Co. has a one year low of $552.01 and a one year high of $923.83.

Costco Wholesale (NASDAQ:COST – Get Free Report) last announced 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. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same quarter in the prior year, the company earned $4.86 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm 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. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is presently 28.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and set a $980.00 target price (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Wells Fargo & Company boosted their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Oppenheimer upped 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. Finally, Tigress Financial reiterated a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a research report on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $894.57.

Read Our Latest Stock Analysis on COST

Insider Buying and Selling

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the firm’s 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 transaction, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction on 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 sale, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $24,514,232. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,636 shares of company stock worth $11,238,510 in the last quarter. Insiders own 0.18% of the company’s stock.

About Costco Wholesale

(Free Report)

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.

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