Peak Asset Management LLC Sells 106 Shares of Costco Wholesale Co. (NASDAQ:COST)

Peak Asset Management LLC cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,280 shares of the retailer’s stock after selling 106 shares during the period. Peak Asset Management LLC’s holdings in Costco Wholesale were worth $3,794,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of COST. Financial Connections Group Inc. boosted its stake in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares during the last quarter. Bank & Trust Co purchased a new position in Costco Wholesale in the second quarter worth $48,000. Ruedi Wealth Management Inc. grew its stake in Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at $50,000. Finally, Fairway Wealth LLC raised its stake in shares of Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after purchasing an additional 46 shares during the period. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on COST. DA Davidson restated a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a report on Thursday, October 10th. Morgan Stanley raised their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Loop Capital upped their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research note on Friday, September 27th. TD Cowen raised their target price on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research report on Monday, November 4th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $905.30.

Costco Wholesale Stock Up 0.1 %

Shares of COST opened at $933.73 on Thursday. 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 stock has a fifty day simple moving average of $895.38 and a two-hundred day simple moving average of $855.44. Costco Wholesale Co. has a 52-week low of $572.24 and a 52-week high of $962.00. The company has a market capitalization of $413.71 billion, a PE ratio of 56.35, a price-to-earnings-growth ratio of 5.75 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same period in the previous year, the company posted $4.86 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Insider Activity at Costco Wholesale

In other news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. This represents a 0.00 % 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 Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 11,016 shares of company stock valued at $9,826,115 over the last three months. 0.18% of the stock is owned by corporate insiders.

About Costco Wholesale

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.