Private Advisor Group LLC Acquires 956 Shares of Costco Wholesale Co. (NASDAQ:COST)

Private Advisor Group LLC grew its holdings in Costco Wholesale Co. (NASDAQ:COST) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,380 shares of the retailer’s stock after acquiring an additional 956 shares during the period. Private Advisor Group LLC’s holdings in Costco Wholesale were worth $57,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Redmont Wealth Advisors LLC purchased a new position in Costco Wholesale during the first quarter valued at $32,000. Financial Connections Group Inc. raised its stake in shares of Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares during the period. Bank & Trust Co purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at about $48,000. Ruedi Wealth Management Inc. grew its stake in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after acquiring an additional 25 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in Costco Wholesale in the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $893.49 on Wednesday. The stock has a 50 day moving average price of $890.30 and a 200-day moving average price of $836.49. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $923.83. The stock has a market cap of $395.88 billion, a price-to-earnings ratio of 53.92, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80. 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 (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.86 earnings per share. Equities analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed 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. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is currently 28.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on COST shares. Morgan Stanley upped their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Stifel Nicolaus increased their price target on Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets restated an “outperform” rating and issued a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Loop Capital upped their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, TD Cowen lifted their target price on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $894.57.

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 transaction of $1,793,420.00. Following the completion of the sale, the executive vice president now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 10,210 shares of the company’s stock, valued at $9,155,409.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,224 shares of company stock valued at $9,974,973. 0.18% of the stock is currently owned by insiders.

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.