Spectrum Wealth Advisory Group LLC Lowers Position in Costco Wholesale Co. (NASDAQ:COST)

Spectrum Wealth Advisory Group LLC cut its holdings in Costco Wholesale Co. (NASDAQ:COST) by 29.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 477 shares of the retailer’s stock after selling 202 shares during the quarter. Spectrum Wealth Advisory Group LLC’s holdings in Costco Wholesale were worth $423,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Fermata Advisors LLC lifted its stake in Costco Wholesale by 0.6% in the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after acquiring an additional 11 shares during the period. Oak Asset Management LLC lifted its stake in Costco Wholesale by 0.3% in the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after acquiring an additional 12 shares during the period. Peddock Capital Advisors LLC lifted its stake in Costco Wholesale by 0.7% in the second quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock worth $1,518,000 after acquiring an additional 12 shares during the period. Perkins Coie Trust Co lifted its stake in Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after acquiring an additional 12 shares during the period. Finally, Horizon Wealth Management LLC lifted its position in shares of Costco Wholesale by 4.7% during the third quarter. Horizon Wealth Management LLC now owns 268 shares of the retailer’s stock valued at $237,000 after buying an additional 12 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $909.94 on Monday. Costco Wholesale Co. has a twelve month low of $577.34 and a twelve month high of $962.00. The company’s 50 day moving average is $897.62 and its 200 day moving average is $859.62. 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 company has a market cap of $403.17 billion, a PE ratio of 54.74, a price-to-earnings-growth ratio of 5.60 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $4.86 EPS. On average, sell-side analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm 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 was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.

Analyst Upgrades and Downgrades

COST has been the subject of several analyst reports. Telsey Advisory Group reissued an “outperform” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research report on Monday, November 4th. Tigress Financial reissued a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a research report on Thursday, October 17th. Evercore ISI increased their price target on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. BMO Capital Markets reissued an “outperform” rating and set a $980.00 price target (up from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Finally, Oppenheimer increased their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $905.30.

Insider Activity

In other news, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the transaction, the executive vice president now owns 10,202 shares in the company, valued at $9,091,512.30. This trade represents a 30.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock worth $9,826,115 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

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.