Chaney Capital Management Inc. Buys 26 Shares of Costco Wholesale Co. (NASDAQ:COST)

Chaney Capital Management Inc. lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,021 shares of the retailer’s stock after buying an additional 26 shares during the period. Costco Wholesale comprises 0.5% of Chaney Capital Management Inc.’s portfolio, making the stock its 18th biggest holding. Chaney Capital Management Inc.’s holdings in Costco Wholesale were worth $905,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Financial Connections Group Inc. lifted its stake 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 purchasing an additional 39 shares during the period. Bank & Trust Co bought a new position in Costco Wholesale during the second quarter worth about $48,000. Ruedi Wealth Management Inc. lifted its stake 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 purchasing an additional 25 shares during the period. Summit Securities Group LLC bought a new position in Costco Wholesale during the second quarter worth about $50,000. Finally, Fairway Wealth LLC increased its holdings in shares of Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after buying an additional 46 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective for the company. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Oppenheimer raised their price objective on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a $980.00 price objective (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a report on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $905.30.

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 sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 23,800 shares in the company, valued at $20,560,344. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,636 shares of company stock valued at $11,238,510. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Trading Down 0.3 %

Shares of NASDAQ COST opened at $875.00 on Monday. The company’s fifty day moving average is $892.20 and its 200-day moving average is $845.83. The stock has a market cap of $387.69 billion, a price-to-earnings ratio of 52.95, a P/E/G ratio of 5.38 and a beta of 0.80. Costco Wholesale Co. has a twelve month low of $560.13 and a twelve 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.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 2.90% and a return on equity of 31.05%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $4.86 earnings per share. Equities research analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.53%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

About Costco Wholesale

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.