NovaPoint Capital LLC Sells 146 Shares of Costco Wholesale Co. (NASDAQ:COST)

NovaPoint Capital LLC trimmed its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,566 shares of the retailer’s stock after selling 146 shares during the quarter. NovaPoint Capital LLC’s holdings in Costco Wholesale were worth $2,275,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in COST. Perpetual Ltd raised its position in shares of Costco Wholesale by 24.7% in the first quarter. Perpetual Ltd now owns 888 shares of the retailer’s stock worth $651,000 after buying an additional 176 shares in the last quarter. Allied Investment Advisors LLC bought a new position in shares of Costco Wholesale in the 1st quarter worth $210,000. Meyer Handelman Co. increased its stake in Costco Wholesale by 328.3% in the first quarter. Meyer Handelman Co. now owns 1,713 shares of the retailer’s stock valued at $1,255,000 after acquiring an additional 1,313 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in Costco Wholesale by 0.5% during the first quarter. Gulf International Bank UK Ltd now owns 37,398 shares of the retailer’s stock worth $27,398,000 after purchasing an additional 203 shares during the last quarter. Finally, Bennett Selby Investments LP increased its position in shares of Costco Wholesale by 20.9% during the 1st quarter. Bennett Selby Investments LP now owns 815 shares of the retailer’s stock valued at $597,000 after purchasing an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COST. Tigress Financial reiterated a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a research report on Thursday. Evercore ISI raised their price objective on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a report on Tuesday, September 24th. Wells Fargo & Company raised their target price on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, The Goldman Sachs Group increased their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $890.07.

Insider Buying and Selling

In related news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the sale, the executive vice president now owns 10,210 shares of the company’s stock, valued at $9,155,409.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction 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 owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,224 shares of company stock worth $9,974,973. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

NASDAQ COST opened at $889.56 on Friday. 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 business’s fifty day moving average is $889.26 and its 200 day moving average is $832.21. The company has a market capitalization of $394.14 billion, a PE ratio of 53.69, a price-to-earnings-growth ratio of 5.48 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 2.90% and a return on equity of 31.05%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.86 EPS. Sell-side analysts predict that Costco Wholesale Co. will post 17.74 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s payout ratio is 28.00%.

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.