Intact Investment Management Inc. Buys Shares of 440 Costco Wholesale Co. (NASDAQ:COST)

Intact Investment Management Inc. bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 440 shares of the retailer’s stock, valued at approximately $390,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Costco Wholesale by 113,947.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after purchasing an additional 7,364,453 shares in the last quarter. Wulff Hansen & CO. increased its stake in shares of Costco Wholesale by 99,208.6% in the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock worth $1,253,508,000 after purchasing an additional 1,473,248 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Costco Wholesale by 287.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after purchasing an additional 620,341 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in Costco Wholesale by 51,747.5% in the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after buying an additional 618,383 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Costco Wholesale by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock worth $29,916,118,000 after buying an additional 473,702 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on COST shares. DA Davidson reiterated a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a research note on Thursday, October 10th. TD Cowen increased their price target on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Melius Research started coverage on Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 price target for the company. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a research note on Tuesday, September 24th. Finally, Loop Capital increased their price target on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $905.30.

Costco Wholesale Stock Up 0.5 %

Shares of NASDAQ COST opened at $890.17 on Wednesday. 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 company has a market cap of $394.41 billion, a P/E ratio of 53.72, a PEG ratio of 5.40 and a beta of 0.80. Costco Wholesale Co. has a 1 year low of $560.13 and a 1 year high of $923.83. The firm has a 50-day simple moving average of $891.70 and a two-hundred day simple moving average of $848.34.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data 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. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.86 earnings per share. Research analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business 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. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Insider Transactions at Costco Wholesale

In other news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred 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 directly owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred 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 directly owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. 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 three months, insiders have sold 12,636 shares of company stock valued at $11,238,510. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale 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.