Savvy Advisors Inc. Boosts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Savvy Advisors Inc. raised its holdings in Costco Wholesale Co. (NASDAQ:COST) by 39.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,034 shares of the retailer’s stock after purchasing an additional 295 shares during the period. Savvy Advisors Inc.’s holdings in Costco Wholesale were worth $916,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Connections Group Inc. lifted its stake 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 buying an additional 39 shares during the period. Bank & Trust Co purchased a new position in shares of Costco Wholesale during the 2nd quarter worth $48,000. Ruedi Wealth Management Inc. boosted its holdings 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 purchasing an additional 25 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale in the second quarter valued at $50,000. Finally, Fairway Wealth LLC increased its stake in Costco Wholesale by 230.0% in the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after purchasing an additional 46 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $929.86 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $894.30 and a 200 day simple moving average of $854.01. Costco Wholesale Co. has a fifty-two week low of $572.24 and a fifty-two week high of $962.00. The company has a market cap of $412.00 billion, a PE ratio of 56.30, a P/E/G ratio of 5.81 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.10. The company had revenue of $79.70 billion for 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 last year, the firm earned $4.86 EPS. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.50%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a report on Tuesday, September 24th. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a research report on Thursday, October 17th. Stifel Nicolaus increased their price target on shares of Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Redburn Atlantic lowered Costco Wholesale from a “buy” rating to a “neutral” rating and increased their target price for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $905.30.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the transaction, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at $20,015,745. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,136 shares of company stock valued at $10,806,570. 0.18% of the stock is owned by insiders.

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.