Pinnacle Associates Ltd. Acquires 5,717 Shares of Costco Wholesale Co. (NASDAQ:COST)

Pinnacle Associates Ltd. raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 14.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,361 shares of the retailer’s stock after acquiring an additional 5,717 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Costco Wholesale were worth $41,100,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fermata Advisors LLC lifted its holdings in Costco Wholesale by 0.6% during the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after purchasing an additional 11 shares during the last quarter. Oak Asset Management LLC lifted its holdings in Costco Wholesale by 0.3% during the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares during the last quarter. Peddock Capital Advisors LLC lifted its holdings in Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares during the last quarter. Perkins Coie Trust Co lifted its holdings in shares of Costco Wholesale by 0.3% during the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after buying an additional 12 shares in the last quarter. Finally, Firethorn Wealth Partners LLC lifted its holdings in shares of Costco Wholesale by 3.5% during the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock worth $318,000 after buying an additional 12 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $879.09 on Thursday. Costco Wholesale Co. has a 12-month low of $549.06 and a 12-month high of $923.83. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The business’s 50-day moving average price is $892.30 and its two-hundred day moving average price is $842.70. The stock has a market cap of $389.50 billion, a PE ratio of 53.05, a P/E/G ratio of 5.48 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) 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. The company had revenue of $79.70 billion for 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 business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.86 earnings per share. As a group, analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. DA Davidson reissued a “neutral” rating and set a $880.00 target price on shares of Costco Wholesale in a report on Thursday, October 10th. TD Cowen lifted their target price on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Tigress Financial reissued a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a report on Thursday, October 17th. Roth Mkm lifted their target price on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a report on Friday, September 27th. Finally, Barclays lifted their target price on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $894.57.

Insider Transactions at Costco Wholesale

In other news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of Costco Wholesale 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 transaction, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,636 shares of company stock worth $11,238,510. Insiders own 0.18% of the company’s stock.

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.