Tandem Investment Advisors Inc. decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,255 shares of the retailer's stock after selling 1,533 shares during the quarter. Costco Wholesale comprises 1.8% of Tandem Investment Advisors Inc.'s holdings, making the stock its 28th largest holding. Tandem Investment Advisors Inc.'s holdings in Costco Wholesale were worth $46,325,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Resurgent Financial Advisors LLC boosted its position in Costco Wholesale by 1.0% in the first quarter. Resurgent Financial Advisors LLC now owns 1,371 shares of the retailer's stock worth $1,004,000 after purchasing an additional 14 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Costco Wholesale by 22.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,719 shares of the retailer's stock worth $5,655,000 after purchasing an additional 1,408 shares during the last quarter. Empowered Funds LLC boosted its position in Costco Wholesale by 47.9% in the first quarter. Empowered Funds LLC now owns 8,507 shares of the retailer's stock worth $6,232,000 after purchasing an additional 2,757 shares during the last quarter. Sustainable Insight Capital Management LLC purchased a new position in Costco Wholesale in the first quarter worth $219,000. Finally, Highland Capital Management LLC boosted its position in Costco Wholesale by 1.7% in the first quarter. Highland Capital Management LLC now owns 38,814 shares of the retailer's stock worth $28,436,000 after purchasing an additional 650 shares during the last quarter. Institutional investors own 68.48% of the company's stock.
Insider Transactions at Costco Wholesale
In related news, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale 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 transaction, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Susan L. Decker sold 620 shares of the business's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the transaction, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of the business's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock worth $11,238,510 in the last ninety days. Insiders own 0.18% of the company's stock.
Analyst Ratings Changes
Several research analysts have weighed in on the company. Loop Capital boosted their price objective 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. TD Cowen upped their price target on Costco Wholesale from $925.00 to $975.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Stifel Nicolaus upped their price target on Costco Wholesale from $925.00 to $935.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. DA Davidson reaffirmed a "neutral" rating and set a $880.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. Finally, Robert W. Baird boosted their price objective on Costco Wholesale from $850.00 to $975.00 and gave the company an "outperform" rating in a research note on Thursday, July 11th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and an average price target of $905.30.
Read Our Latest Report on COST
Costco Wholesale Stock Up 2.9 %
Shares of Costco Wholesale stock traded up $26.77 on Friday, reaching $940.70. The company's stock had a trading volume of 953,875 shares, compared to its average volume of 1,918,822. The company has a market capitalization of $416.80 billion, a price-to-earnings ratio of 56.04, a P/E/G ratio of 5.45 and a beta of 0.80. The firm's fifty day simple moving average is $891.92 and its two-hundred day simple moving average is $848.69. Costco Wholesale Co. has a 52 week low of $562.01 and a 52 week high of $941.79. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.
Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion for 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% on a year-over-year basis. During the same period last year, the business posted $4.86 EPS. Equities analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.
Costco Wholesale Announces Dividend
The company also recently declared 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 0.49%. Costco Wholesale's dividend payout ratio (DPR) is currently 28.00%.
About Costco Wholesale
(
Free Report)
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.
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