McBroom & Associates LLC Raises Stake in Costco Wholesale Co. (NASDAQ:COST)

McBroom & Associates LLC raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 11,584 shares of the retailer’s stock after purchasing an additional 140 shares during the period. Costco Wholesale accounts for about 6.3% of McBroom & Associates LLC’s portfolio, making the stock its 2nd largest position. McBroom & Associates LLC’s holdings in Costco Wholesale were worth $10,269,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in Costco Wholesale in the first quarter worth approximately $32,000. Financial Connections Group Inc. boosted its position in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Costco Wholesale in the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. raised its position in shares of Costco Wholesale by 73.5% in the 2nd 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. Finally, Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale during the 2nd quarter worth $50,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 0.5 %

NASDAQ COST opened at $889.56 on Friday. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. 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 $394.37 billion, a PE ratio of 55.12, a P/E/G ratio of 5.48 and a beta of 0.80. The company has a fifty day moving average of $889.26 and a 200 day moving average of $833.05.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.86 EPS. Research analysts forecast that Costco Wholesale Co. will post 17.74 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 payout ratio is 28.75%.

Analyst Ratings Changes

COST has been the topic of several analyst reports. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a research note on Thursday, August 8th. Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective on the stock. in a research report on Tuesday, September 24th. DA Davidson reissued a “neutral” rating and set a $880.00 target price on shares of Costco Wholesale in a research report on Thursday, October 10th. Loop Capital raised their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Robert W. Baird upped their price target on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $890.07.

Insider Activity

In related news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the sale, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value 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 $20,015,745. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the transaction, the executive vice president now owns 10,210 shares in the company, valued at $9,155,409.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,224 shares of company stock valued at $9,974,973 in the last three months. 0.18% of the stock is currently owned by corporate insiders.

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.