SevenBridge Financial Group LLC Acquires 66 Shares of Costco Wholesale Co. (NASDAQ:COST)

SevenBridge Financial Group LLC increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 595 shares of the retailer’s stock after purchasing an additional 66 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Costco Wholesale were worth $555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. International Assets Investment Management LLC raised its holdings in shares of Costco Wholesale by 113,947.9% during the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after purchasing an additional 7,364,453 shares during the last quarter. Legal & General Group Plc raised its stake in Costco Wholesale by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock valued at $3,102,941,000 after buying an additional 88,550 shares during the last quarter. Jennison Associates LLC raised its stake in Costco Wholesale by 3.8% during the 3rd quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock valued at $3,013,394,000 after buying an additional 125,444 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Costco Wholesale by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock valued at $2,489,574,000 after buying an additional 32,074 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Costco Wholesale by 28.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock worth $1,307,363,000 after acquiring an additional 338,780 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 0.9 %

Shares of Costco Wholesale stock opened at $964.01 on Friday. Costco Wholesale Co. has a twelve month low of $582.83 and a twelve month high of $976.30. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $901.18 and a 200-day moving average price of $865.47. The firm has a market cap of $427.12 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 5.90 and a beta of 0.80.

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. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $4.86 EPS. Equities research analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 annualized dividend and a yield of 0.48%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Insiders Place Their Bets

In other news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 4.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,016 shares of company stock valued at $9,826,115 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

COST has been the topic of a number of recent research reports. TD Cowen increased their target price on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Stifel Nicolaus raised their price objective on shares of Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Loop Capital upped their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. Melius Research initiated coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price target on the stock. Finally, Redburn Atlantic lowered Costco Wholesale from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $860.00 to $890.00 in a research note on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $908.81.

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.