Cullinan Associates Inc. Sells 3,133 Shares of Costco Wholesale Co. (NASDAQ:COST)

Cullinan Associates Inc. decreased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 15.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,517 shares of the retailer’s stock after selling 3,133 shares during the quarter. Cullinan Associates Inc.’s holdings in Costco Wholesale were worth $14,669,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in COST. Redmont Wealth Advisors LLC acquired a new stake in Costco Wholesale during the 1st quarter valued at approximately $32,000. Financial Connections Group Inc. raised its position 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 during the period. Bank & Trust Co acquired a new position in Costco Wholesale during the second quarter worth $48,000. Ruedi Wealth Management Inc. raised its position 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 during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale during the second quarter worth $50,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was 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 owns 10,210 shares of the company’s stock, valued at $9,155,409.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale 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 completion of the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,636 shares of company stock worth $11,238,510. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Truist Financial cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price on the stock. in a research report on Tuesday, September 24th. The Goldman Sachs Group increased their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Tigress Financial reaffirmed a “buy” rating and issued a $1,065.00 target price on shares of Costco Wholesale in a report on Thursday, October 17th. Finally, Morgan Stanley raised their target price on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $894.57.

Costco Wholesale Price Performance

NASDAQ:COST opened at $891.22 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83. The firm has a market cap of $394.87 billion, a P/E ratio of 53.79, a PEG ratio of 5.50 and a beta of 0.80. The business’s 50-day moving average price is $891.35 and its 200 day moving average price is $837.33.

Costco Wholesale (NASDAQ:COST) last issued 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 for 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%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $4.86 EPS. As a group, sell-side analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company 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. The ex-dividend date 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 currently 28.00%.

Costco Wholesale Company 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.