KPP Advisory Services LLC Raises Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

KPP Advisory Services LLC boosted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 982 shares of the retailer’s stock after purchasing an additional 87 shares during the period. KPP Advisory Services LLC’s holdings in Costco Wholesale were worth $871,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Connections Group Inc. increased its position in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares during the last quarter. Bank & Trust Co bought a new stake in shares of Costco Wholesale in the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. lifted its stake 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 valued at $50,000 after buying an additional 25 shares in the last quarter. Summit Securities Group LLC bought a new position in Costco Wholesale in the 2nd quarter worth approximately $50,000. Finally, Fairway Wealth LLC boosted its holdings in Costco Wholesale by 230.0% in the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 1.8 %

Costco Wholesale stock traded down $16.82 during trading hours on Friday, hitting $907.07. 2,269,945 shares of the stock traded hands, compared to its average volume of 1,930,030. Costco Wholesale Co. has a one year low of $572.24 and a one year high of $962.00. The company has a market cap of $401.90 billion, a PE ratio of 54.74, a PEG ratio of 5.76 and a beta of 0.80. The firm’s 50-day moving average price is $897.62 and its two-hundred day moving average price is $857.72. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the company posted $4.86 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, research analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the sale, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This trade represents a 16.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were 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 in the company, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,016 shares of company stock valued at $9,826,115. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on COST shares. Morgan Stanley lifted their target price on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a research report on Tuesday, September 24th. Tigress Financial restated a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a research report on Thursday, October 17th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $980.00 price objective (up from $950.00) on shares of Costco Wholesale 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. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target 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.