Palumbo Wealth Management LLC Boosts Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Palumbo Wealth Management LLC grew its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,668 shares of the retailer’s stock after buying an additional 70 shares during the period. Costco Wholesale accounts for 2.0% of Palumbo Wealth Management LLC’s investment portfolio, making the stock its 14th largest position. Palumbo Wealth Management LLC’s holdings in Costco Wholesale were worth $5,025,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Resurgent Financial Advisors LLC increased its position in shares of Costco Wholesale by 1.0% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,371 shares of the retailer’s stock valued at $1,004,000 after purchasing an additional 14 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Costco Wholesale by 22.3% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,719 shares of the retailer’s stock valued at $5,655,000 after purchasing an additional 1,408 shares during the last quarter. Smith Group Asset Management LLC increased its position in shares of Costco Wholesale by 28.5% during the 1st quarter. Smith Group Asset Management LLC now owns 51,817 shares of the retailer’s stock valued at $37,963,000 after purchasing an additional 11,490 shares during the last quarter. Flynn Zito Capital Management LLC bought a new position in Costco Wholesale during the 1st quarter worth approximately $626,000. Finally, Avior Wealth Management LLC grew its position in Costco Wholesale by 11.8% during the 1st quarter. Avior Wealth Management LLC now owns 6,849 shares of the retailer’s stock worth $5,018,000 after acquiring an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 0.6 %

COST stock opened at $874.18 on Friday. Costco Wholesale Co. has a 1-year low of $549.06 and a 1-year high of $923.83. The business has a fifty day moving average price of $892.24 and a 200-day moving average price of $842.92. 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 stock has a market capitalization of $387.32 billion, a P/E ratio of 52.76, a P/E/G ratio of 5.41 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The company 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%. Costco Wholesale’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.86 earnings per share. Equities analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm 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. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COST shares. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group raised 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. Bank of America raised their price target on Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Truist Financial lowered 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. Finally, Evercore ISI raised their price target on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $894.57.

Insider Activity at Costco Wholesale

In other news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the transaction, the executive vice president now owns 23,800 shares in the company, valued at $20,560,344. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the transaction, the executive vice president now owns 23,800 shares of the company’s stock, valued at $20,560,344. This trade represents 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 hyperlink. Also, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,636 shares of company stock worth $11,238,510. 0.18% of the stock is owned by company insiders.

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.