Independent Advisor Alliance Sells 1,183 Shares of Costco Wholesale Co. (NASDAQ:COST)

Independent Advisor Alliance decreased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,981 shares of the retailer’s stock after selling 1,183 shares during the quarter. Costco Wholesale makes up about 1.1% of Independent Advisor Alliance’s investment portfolio, making the stock its 17th biggest holding. Independent Advisor Alliance’s holdings in Costco Wholesale were worth $29,238,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Costco Wholesale by 113,947.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after purchasing an additional 7,364,453 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Costco Wholesale by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock worth $3,102,941,000 after buying an additional 88,550 shares during the period. Jennison Associates LLC raised its holdings in Costco Wholesale by 3.8% in the 3rd quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock valued at $3,013,394,000 after acquiring an additional 125,444 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Costco Wholesale by 2.7% during the third quarter. Fisher Asset Management LLC now owns 3,034,491 shares of the retailer’s stock worth $2,690,138,000 after acquiring an additional 78,590 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Costco Wholesale by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock valued at $2,489,574,000 after purchasing an additional 32,074 shares during the last quarter. 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 business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock worth $9,826,115 over the last ninety days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

COST stock opened at $964.01 on Monday. The company has a market capitalization of $427.12 billion, a P/E ratio of 58.18, a PEG ratio of 5.95 and a beta of 0.80. The company has a fifty day moving average price of $901.18 and a 200-day moving average price of $866.19. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a 52-week low of $582.83 and a 52-week high of $976.30.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same period last year, the company earned $4.86 EPS. Costco Wholesale’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Analyst Upgrades and Downgrades

COST has been the topic of a number of research reports. Redburn Atlantic lowered Costco Wholesale from a “buy” rating to a “neutral” rating and upped their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. TD Cowen upped their price target on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Telsey Advisory Group restated an “outperform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research report on Monday, November 4th. The Goldman Sachs Group raised their target price on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Sanford C. Bernstein began coverage on Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target 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 data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $908.81.

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.