Garrison Asset Management LLC Acquires 16 Shares of Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

Garrison Asset Management LLC boosted its stake in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 742 shares of the retailer’s stock after purchasing an additional 16 shares during the period. Garrison Asset Management LLC’s holdings in Costco Wholesale were worth $658,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in COST. Financial Connections Group Inc. boosted its holdings in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Bank & Trust Co bought a new stake in Costco Wholesale in the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. grew its holdings in Costco Wholesale by 73.5% in 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 in the last quarter. Summit Securities Group LLC bought a new position in Costco Wholesale during the 2nd quarter worth $50,000. Finally, Fairway Wealth LLC lifted its holdings in shares of Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after buying an additional 46 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Trading Up 0.4 %

NASDAQ:COST traded up $3.15 during trading hours on Monday, reaching $880.46. The company’s stock had a trading volume of 162,280 shares, compared to its average volume of 1,914,604. 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 firm has a market capitalization of $390.11 billion, a price-to-earnings ratio of 52.95, a PEG ratio of 5.38 and a beta of 0.80. The firm has a 50-day simple moving average of $892.20 and a 200-day simple moving average of $845.83. Costco Wholesale Co. has a 1 year low of $560.13 and a 1 year high of $923.83.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter in the previous year, the business posted $4.86 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.

Insider Activity

In related news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock valued at $11,238,510 in the last 90 days. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on COST. Bank of America upped their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Wells Fargo & Company lifted their price target on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Stifel Nicolaus upped their price objective on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird boosted their target price on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $905.30.

Check Out Our Latest Analysis on Costco Wholesale

Costco Wholesale Profile

(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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