Lucia Wealth Services LLC decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 31.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119 shares of the retailer’s stock after selling 55 shares during the period. Lucia Wealth Services LLC’s holdings in Costco Wholesale were worth $42,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in COST. Provident Wealth Management LLC bought a new stake in Costco Wholesale during the 3rd quarter valued at $26,000. Newfound Research LLC acquired a new position in shares of Costco Wholesale in the 3rd quarter valued at $28,000. Cerebellum GP LLC acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at $32,000. Red Cedar Capital LLC raised its stake in shares of Costco Wholesale by 588.2% in the 2nd quarter. Red Cedar Capital LLC now owns 117 shares of the retailer’s stock valued at $35,000 after buying an additional 100 shares in the last quarter. Finally, Horan Capital Advisors LLC. acquired a new position in shares of Costco Wholesale in the 3rd quarter valued at $39,000. 68.20% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on COST. Citigroup increased their price objective on shares of Costco Wholesale from $345.00 to $365.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Morgan Stanley increased their target price on shares of Costco Wholesale from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, November 12th. Tigress Financial reiterated a “buy” rating on shares of Costco Wholesale in a research report on Friday, July 24th. Stifel Nicolaus increased their target price on shares of Costco Wholesale from $360.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Finally, Loop Capital increased their target price on shares of Costco Wholesale from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, October 8th. They noted that the move was a valuation call. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Costco Wholesale presently has an average rating of “Buy” and an average price target of $376.33.
Shares of NASDAQ COST traded up $8.25 during mid-day trading on Tuesday, hitting $388.04. The company’s stock had a trading volume of 41,224 shares, compared to its average volume of 2,800,552. The stock has a market cap of $167.57 billion, a price-to-earnings ratio of 42.11, a price-to-earnings-growth ratio of 4.58 and a beta of 0.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.13 and a quick ratio of 0.64. Costco Wholesale Co. has a one year low of $271.28 and a one year high of $389.50. The company’s fifty day simple moving average is $369.64 and its 200-day simple moving average is $333.70.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 24th. The retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $52.03 billion. Costco Wholesale had a net margin of 2.40% and a return on equity of 22.71%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.69 EPS. On average, sell-side analysts predict that Costco Wholesale Co. will post 9.69 EPS for the current year.
The firm also recently announced a special dividend, which will be paid on Friday, December 11th. Stockholders of record on Wednesday, December 2nd will be paid a $10.00 dividend. This is a positive change from Costco Wholesale’s previous special dividend of $7.00. Costco Wholesale’s dividend payout ratio (DPR) is 31.64%.
In related news, Director Susan L. Decker sold 2,500 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $347.90, for a total value of $869,750.00. Following the sale, the director now directly owns 21,747 shares in the company, valued at approximately $7,565,781.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph P. Portera sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $348.00, for a total transaction of $2,088,000.00. Following the completion of the sale, the vice president now owns 6,211 shares in the company, valued at $2,161,428. The disclosure for this sale can be found here. Insiders sold a total of 10,554 shares of company stock worth $3,669,587 over the last quarter. 0.22% of the stock is currently owned by corporate insiders.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
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