Curi RMB Capital LLC Increases Position in Costco Wholesale Co. (NASDAQ:COST)

Curi RMB Capital LLC boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 47.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,721 shares of the retailer’s stock after acquiring an additional 881 shares during the period. Curi RMB Capital LLC’s holdings in Costco Wholesale were worth $2,412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COST. Financial Connections Group Inc. grew its position in Costco Wholesale by 557.1% in 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 during the last quarter. Bank & Trust Co purchased a new stake in shares of Costco Wholesale in the second quarter valued at about $48,000. Ruedi Wealth Management Inc. increased its stake in shares of Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the period. Summit Securities Group LLC acquired a new position in shares of Costco Wholesale during the second quarter worth about $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Costco Wholesale during the third quarter worth about $58,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on COST shares. Loop Capital boosted their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a report on Thursday, August 8th. Wells Fargo & Company boosted their target price on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Barclays raised their price objective on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group upped their target price on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $905.30.

Insider Activity

In other news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were 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 owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This trade represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock valued at $9,826,115 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

COST opened at $907.07 on Friday. Costco Wholesale Co. has a 1 year low of $572.24 and a 1 year high of $962.00. The company’s 50 day simple moving average is $897.01 and its 200 day simple moving average is $856.46. The stock has a market capitalization of $401.90 billion, a PE ratio of 55.24, a P/E/G ratio of 5.76 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 announced its quarterly earnings results 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 company had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $4.86 EPS. As a group, sell-side 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 was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is 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.