Park Edge Advisors LLC Sells 58 Shares of Costco Wholesale Co. (NASDAQ:COST)

Park Edge Advisors LLC decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,391 shares of the retailer’s stock after selling 58 shares during the quarter. Park Edge Advisors LLC’s holdings in Costco Wholesale were worth $1,233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in Costco Wholesale by 62.8% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after buying an additional 932 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in Costco Wholesale by 52.1% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after purchasing an additional 2,620 shares during the last quarter. Patton Fund Management Inc. acquired a new position in Costco Wholesale during the 3rd quarter valued at about $6,424,000. WestHill Financial Advisors Inc. boosted its stake in shares of Costco Wholesale by 328.4% in the 3rd quarter. WestHill Financial Advisors Inc. now owns 1,435 shares of the retailer’s stock valued at $1,272,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of Costco Wholesale by 22.8% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock worth $3,003,000 after buying an additional 656 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COST shares. Robert W. Baird raised their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Roth Mkm upped their price objective on Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Barclays raised their target price on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Melius Research started coverage on Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 price target for the company. Finally, DA Davidson reissued a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $894.57.

Insiders Place Their Bets

In other news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the sale, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Claudine Adamo sold 3,200 shares of the company’s 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 transaction, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the sale, the executive vice president now owns 23,800 shares of the company’s stock, valued at $20,560,344. 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 90 days. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Trading Down 0.2 %

Shares of Costco Wholesale stock opened at $891.22 on Monday. The stock has a market cap of $395.11 billion, a P/E ratio of 55.22, a P/E/G ratio of 5.50 and a beta of 0.80. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The business’s 50 day moving average is $891.76 and its 200-day moving average is $840.23.

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 the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the prior year, the firm posted $4.86 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is currently 28.75%.

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.