Balentine LLC Takes Position in Costco Wholesale Co. (NASDAQ:COST)

Balentine LLC bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,795 shares of the retailer’s stock, valued at approximately $1,591,000.

Other hedge funds have also added to or reduced their stakes in the company. Financial Connections Group Inc. increased its holdings in shares of 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 acquired a new stake in Costco Wholesale during the second quarter worth approximately $48,000. Ruedi Wealth Management Inc. increased its stake in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the period. Summit Securities Group LLC acquired a new position in Costco Wholesale in the 2nd quarter valued at $50,000. Finally, Fairway Wealth LLC lifted its position in shares of Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after acquiring an additional 46 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on COST shares. Barclays raised their price target on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Melius Research started coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price on the stock. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a report on Thursday, October 17th. DA Davidson restated a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 10th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a report on Monday. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $905.30.

Costco Wholesale Stock Up 0.5 %

Shares of NASDAQ:COST opened at $890.17 on Wednesday. The firm has a market cap of $394.41 billion, a P/E ratio of 53.72, a P/E/G ratio of 5.40 and a beta of 0.80. Costco Wholesale Co. has a 12-month low of $560.13 and a 12-month high of $923.83. The business has a fifty day simple moving average of $891.70 and a 200 day simple moving average of $848.34. 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 issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same period last year, the company earned $4.86 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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 given a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Insider Activity

In related news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the transaction, the executive vice president now owns 10,202 shares of the company’s stock, valued at $9,091,512.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at $24,514,232. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was 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 $9,091,512.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In 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 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.