Axxcess Wealth Management LLC Lowers Holdings in Costco Wholesale Co. (NASDAQ:COST)

Axxcess Wealth Management LLC trimmed its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,264 shares of the retailer’s stock after selling 402 shares during the period. Axxcess Wealth Management LLC’s holdings in Costco Wholesale were worth $13,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Financial Connections Group Inc. raised its holdings in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of Costco Wholesale during the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. raised its holdings in shares of 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 in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale during the 2nd quarter worth approximately $50,000. Finally, Fairway Wealth LLC raised its holdings in shares of Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after acquiring an additional 46 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

COST opened at $943.80 on Friday. Costco Wholesale Co. has a 12-month low of $562.01 and a 12-month high of $962.00. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $893.49 and its 200-day simple moving average is $850.73. The company has a market capitalization of $418.17 billion, a price-to-earnings ratio of 56.96, a PEG ratio of 5.53 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results 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 business had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the prior year, the company earned $4.86 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal 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 dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is currently 28.00%.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock valued at $11,238,510 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

COST has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Tigress Financial restated 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 target on shares of Costco Wholesale in a report on Thursday, October 10th. TD Cowen increased their price target on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company increased their price target on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $905.30.

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.