Petra Financial Advisors Inc. Cuts Position in Costco Wholesale Co. (NASDAQ:COST)

Petra Financial Advisors Inc. cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,880 shares of the retailer’s stock after selling 46 shares during the period. Costco Wholesale comprises approximately 1.1% of Petra Financial Advisors Inc.’s portfolio, making the stock its 23rd largest position. Petra Financial Advisors Inc.’s holdings in Costco Wholesale were worth $1,666,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fermata Advisors LLC grew its position in shares of Costco Wholesale by 0.6% during the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after purchasing an additional 11 shares in the last quarter. Oak Asset Management LLC grew its position in shares of Costco Wholesale by 0.3% during the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares in the last quarter. Peddock Capital Advisors LLC grew its position in shares of Costco Wholesale by 0.7% during the second quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares in the last quarter. Perkins Coie Trust Co grew its position in shares of Costco Wholesale by 0.3% during the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock valued at $4,144,000 after purchasing an additional 12 shares in the last quarter. Finally, Firethorn Wealth Partners LLC grew its position in shares of Costco Wholesale by 3.5% during the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after purchasing an additional 12 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Costco Wholesale

In other news, Director Susan L. Decker sold 620 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the transaction, the executive vice president now owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,636 shares of company stock valued at $11,238,510. 0.18% of the stock is owned by insiders.

Costco Wholesale Price Performance

NASDAQ:COST opened at $874.18 on Friday. Costco Wholesale Co. has a one year low of $549.06 and a one year high of $923.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The firm has a market cap of $387.32 billion, a price-to-earnings ratio of 52.76, a PEG ratio of 5.41 and a beta of 0.80. The firm’s fifty day moving average is $892.24 and its two-hundred day moving average is $842.92.

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

Costco Wholesale Dividend Announcement

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 issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Wall Street Analyst Weigh In

Several research analysts recently commented on COST shares. Morgan Stanley lifted their price target on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their price target on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company lifted their price target on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Finally, DA Davidson reiterated a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $894.57.

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.