Linscomb Wealth Inc. Sells 152 Shares of Costco Wholesale Co. (NASDAQ:COST)

Linscomb Wealth Inc. reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,348 shares of the retailer’s stock after selling 152 shares during the period. Linscomb Wealth Inc.’s holdings in Costco Wholesale were worth $5,628,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COST. Financial Connections Group Inc. raised its holdings in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co bought a new position in shares of Costco Wholesale during the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. boosted its stake in shares of Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after buying an additional 25 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Costco Wholesale during the 2nd quarter valued at about $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at about $58,000. 68.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 10,210 shares in the company, valued at $9,155,409.10. This represents a 16.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 11th. The stock was 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 trade represents a 30.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,016 shares of company stock valued at $9,826,115 in the last three months. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

NASDAQ:COST traded down $10.26 during trading hours on Friday, hitting $913.63. 650,479 shares of the stock were exchanged, compared to its average volume of 1,922,292. The firm’s fifty day moving average price is $897.01 and its 200 day moving average price is $856.46. Costco Wholesale Co. has a 52-week low of $572.24 and a 52-week high of $962.00. The company has a market cap of $404.80 billion, a P/E ratio of 55.35, a P/E/G ratio of 5.76 and a beta of 0.80. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. The firm 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% on a year-over-year basis. During the same period in the previous year, the business earned $4.86 earnings per share. As a group, equities research analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 0.51%. Costco Wholesale’s payout ratio is presently 28.00%.

Analyst Ratings Changes

Several research firms have recently commented on COST. Stifel Nicolaus boosted their target price 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. Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a report on Tuesday, September 24th. Oppenheimer increased their target price on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. DA Davidson restated a “neutral” rating and issued a $880.00 target price on shares of Costco Wholesale in a report on Thursday, October 10th. Finally, Morgan Stanley boosted their target price on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $905.30.

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.