Hanlon Investment Management Inc. Purchases 17 Shares of Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

Hanlon Investment Management Inc. increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 6.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 284 shares of the retailer’s stock after acquiring an additional 17 shares during the period. Hanlon Investment Management Inc.’s holdings in Costco Wholesale were worth $252,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Connections Group Inc. raised its holdings in 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 in the last quarter. Bank & Trust Co bought a new stake in Costco Wholesale during the second quarter worth about $48,000. Ruedi Wealth Management Inc. raised its holdings in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares in the last quarter. Summit Securities Group LLC bought a new stake in Costco Wholesale during the second quarter worth about $50,000. Finally, Fairway Wealth LLC raised its holdings in 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 acquiring an additional 46 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 0.2 %

Shares of COST opened at $887.66 on Tuesday. Costco Wholesale Co. has a 52 week low of $560.13 and a 52 week high of $923.83. The stock has a market capitalization of $393.30 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 5.40 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. The stock has a fifty day moving average of $892.07 and a 200-day moving average of $847.07.

Costco Wholesale (NASDAQ:COST – Get Free Report) last posted 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. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.86 earnings per share. As a group, sell-side analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal 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 issued a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. Costco Wholesale’s payout ratio is 28.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on COST shares. Melius Research started coverage on Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target on the stock. Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target on the stock. in a research report on Tuesday, September 24th. Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. The Goldman Sachs Group boosted their price target on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Stifel Nicolaus boosted their price target on Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $905.30.

Get Our Latest Analysis on COST

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the sale, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction dated Friday, October 11th. The stock was 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,636 shares of company stock worth $11,238,510 over the last three months. Company 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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