Scott & Selber Inc. Sells 12 Shares of Costco Wholesale Co. (NASDAQ:COST)

Scott & Selber Inc. cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,482 shares of the retailer’s stock after selling 12 shares during the quarter. Scott & Selber Inc.’s holdings in Costco Wholesale were worth $2,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COST. Financial Connections Group Inc. lifted its stake in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Costco Wholesale in the second quarter valued at $48,000. Ruedi Wealth Management Inc. lifted its holdings in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares in the last quarter. Summit Securities Group LLC bought a new position in Costco Wholesale in the 2nd quarter worth about $50,000. Finally, Fairway Wealth LLC boosted its stake 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 purchasing an additional 46 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the 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 owns 23,800 shares in the company, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the transaction, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of 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 worth $11,238,510 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target on the stock. in a report on Tuesday, September 24th. Morgan Stanley raised their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Oppenheimer upped their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Melius Research began coverage on Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $905.30.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $943.80 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a fifty-two week low of $562.01 and a fifty-two week high of $962.00. The firm has a market cap of $418.17 billion, a PE ratio of 56.96, a price-to-earnings-growth ratio of 5.53 and a beta of 0.80. The business has a 50 day moving average price of $893.49 and a 200-day moving average price of $850.73.

Costco Wholesale (NASDAQ:COST) last announced 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 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 in the prior year, the company posted $4.86 EPS. The firm’s revenue for the quarter 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 year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.49%. Costco Wholesale’s payout ratio is presently 28.00%.

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.