Costco Wholesale Co. (NASDAQ:COST) Shares Acquired by Bay Rivers Group

Bay Rivers Group lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,839 shares of the retailer’s stock after purchasing an additional 50 shares during the period. Costco Wholesale makes up 2.6% of Bay Rivers Group’s holdings, making the stock its 11th biggest holding. Bay Rivers Group’s holdings in Costco Wholesale were worth $5,176,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Financial Connections Group Inc. grew its position 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 worth $39,000 after buying an additional 39 shares in the last quarter. Bank & Trust Co acquired a new position in Costco Wholesale during the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. increased its position in shares of 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 last quarter. Summit Securities Group LLC acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at $50,000. Finally, Fairway Wealth LLC lifted its position 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 last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COST has been the topic of several recent analyst reports. Melius Research assumed coverage on Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price on the stock. Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective on the stock. in a report on Tuesday, September 24th. Wells Fargo & Company boosted their target price on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Loop Capital increased their price target on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Evercore ISI raised their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $894.57.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were 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 of the company’s stock, valued at $24,514,232. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the transaction, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,636 shares of company stock valued at $11,238,510. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Down 0.4 %

COST stock opened at $886.99 on Wednesday. The stock has a market capitalization of $393.00 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 5.48 and a beta of 0.80. The company has a fifty day moving average of $892.35 and a 200-day moving average of $842.45. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a one year low of $543.64 and a one year high of $923.83.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.86 EPS. As a group, analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed 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 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Costco Wholesale 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.