Costco Wholesale Co. (NASDAQ:COST) Shares Acquired by Coastline Trust Co

Coastline Trust Co raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,022 shares of the retailer’s stock after purchasing an additional 324 shares during the period. Costco Wholesale comprises 0.9% of Coastline Trust Co’s investment portfolio, making the stock its 26th biggest position. Coastline Trust Co’s holdings in Costco Wholesale were worth $7,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in COST. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in shares of Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after acquiring an additional 932 shares in the last quarter. Hudson Value Partners LLC raised its holdings in Costco Wholesale by 7.6% during the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after purchasing an additional 568 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its position in shares of Costco Wholesale by 66.9% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock worth $2,738,000 after buying an additional 1,238 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Costco Wholesale by 52.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after buying an additional 2,620 shares in the last quarter. Finally, Patton Fund Management Inc. acquired a new stake in Costco Wholesale during the 3rd quarter worth $6,424,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Down 1.8 %

COST opened at $907.07 on Friday. Costco Wholesale Co. has a fifty-two week low of $572.24 and a fifty-two week high of $962.00. The company has a market capitalization of $401.90 billion, a P/E ratio of 54.74, a P/E/G ratio of 5.76 and a beta of 0.80. 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 firm’s fifty day moving average price is $897.62 and its two-hundred day moving average price is $857.72.

Costco Wholesale (NASDAQ:COST) last announced its 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 net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter last year, the company posted $4.86 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate 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. Stockholders of record on Friday, November 1st were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. Costco Wholesale’s payout ratio is currently 28.00%.

Insider Activity

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 sale, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction that occurred on 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 directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,016 shares of company stock valued at $9,826,115 in the last ninety days. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on COST shares. Redburn Atlantic lowered 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. Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target on the stock. in a research report on Tuesday, September 24th. Stifel Nicolaus increased their price objective on Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. BMO Capital Markets restated an “outperform” rating and set a $980.00 price target (up previously from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Finally, Melius Research began coverage on shares of Costco Wholesale in a research report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $905.30.

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.