Net Worth Advisory Group Buys Shares of 1,004 Costco Wholesale Co. (NASDAQ:COST)

Net Worth Advisory Group acquired a new position in Costco Wholesale Co. (NASDAQ:COST) during the 3rd quarter, Holdings Channel reports. The fund acquired 1,004 shares of the retailer’s stock, valued at approximately $890,000.

A number of other large investors have also recently added to or reduced their stakes in COST. Strong Tower Advisory Services lifted its stake in Costco Wholesale by 7.9% in the 1st quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock valued at $1,346,000 after buying an additional 137 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in shares of Costco Wholesale by 62.8% in the third 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 acquiring an additional 932 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in shares of Costco Wholesale by 52.1% during the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after acquiring an additional 2,620 shares during the last quarter. Patton Fund Management Inc. purchased a new stake in Costco Wholesale during the 3rd quarter worth about $6,424,000. Finally, Main Street Financial Solutions LLC raised its stake in Costco Wholesale by 22.8% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock valued at $3,003,000 after purchasing an additional 656 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the sale, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Richard A. Galanti sold 500 shares of the business’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 completion of the transaction, the executive vice president now directly owns 23,800 shares in the company, valued at approximately $20,560,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the sale, the executive vice president now owns 10,210 shares in the company, valued at approximately $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,224 shares of company stock valued at $9,974,973. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $889.56 on Friday. 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 stock has a 50 day moving average of $889.26 and a 200-day moving average of $832.21. The stock has a market cap of $394.14 billion, a P/E ratio of 53.69, a price-to-earnings-growth ratio of 5.48 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $4.86 earnings per share. On average, analysts expect that Costco Wholesale Co. will post 17.74 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.52%. Costco Wholesale’s payout ratio is currently 28.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a research note on Thursday, August 8th. DA Davidson restated a “neutral” rating and set a $880.00 target price on shares of Costco Wholesale in a research report on Thursday, October 10th. Tigress Financial reiterated a “buy” rating and issued a $1,065.00 price target on shares of Costco Wholesale in a report on Thursday. Loop Capital raised their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Evercore ISI lifted their price objective on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $890.07.

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.