Spinnaker Trust Sells 426 Shares of Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

Spinnaker Trust lowered its holdings in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,491 shares of the retailer’s stock after selling 426 shares during the period. Spinnaker Trust’s holdings in Costco Wholesale were worth $6,641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of COST. Consilium Wealth Advisory LLC increased its position in shares of Costco Wholesale by 2.0% during the 3rd quarter. Consilium Wealth Advisory LLC now owns 1,564 shares of the retailer’s stock valued at $1,386,000 after purchasing an additional 31 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Costco Wholesale by 6.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 8,797 shares of the retailer’s stock worth $7,799,000 after acquiring an additional 546 shares during the last quarter. Gordian Advisors LLC bought a new position in shares of Costco Wholesale during the 3rd quarter valued at $383,000. Centennial Wealth Advisory LLC raised its position in Costco Wholesale by 15.8% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 813 shares of the retailer’s stock worth $721,000 after purchasing an additional 111 shares during the period. Finally, Maia Wealth LLC grew its stake in shares of Costco Wholesale by 18.1% during the third quarter. Maia Wealth LLC now owns 418 shares of the retailer’s stock valued at $374,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COST. Stifel Nicolaus boosted their price objective on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Robert W. Baird raised their price target 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. BMO Capital Markets reaffirmed an “outperform” rating and set a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Roth Mkm boosted their price target on Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Finally, Melius Research started coverage on Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $905.30.

Get Our Latest Stock Report on Costco Wholesale

Costco Wholesale Stock Performance

COST stock traded up $0.70 during trading on Wednesday, reaching $890.87. The stock had a trading volume of 517,822 shares, compared to its average volume of 1,913,328. Costco Wholesale Co. has a 52 week low of $562.01 and a 52 week high of $923.83. The firm has a market cap of $394.72 billion, a PE ratio of 53.76, a PEG ratio of 5.40 and a beta of 0.80. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average is $891.70 and its two-hundred day moving average is $848.34.

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, topping 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 the consensus estimate of $79.91 billion. During the same period last year, the firm earned $4.86 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Insiders Place Their Bets

In other news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were 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 in the company, valued at $24,514,232. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction that occurred 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 of the company’s stock, valued at approximately $24,514,232. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the transaction, the executive vice president now 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 90 days, insiders have sold 12,636 shares of company stock worth $11,238,510. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Company 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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