KMG Fiduciary Partners LLC Increases Stock Position in Costco Wholesale Co. (NASDAQ:COST)

KMG Fiduciary Partners LLC boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 93.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,165 shares of the retailer’s stock after buying an additional 4,910 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Costco Wholesale were worth $9,012,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Net Worth Advisory Group purchased a new stake in Costco Wholesale during the third quarter valued at approximately $890,000. Stratos Wealth Advisors LLC lifted its holdings in shares of Costco Wholesale by 0.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 15,376 shares of the retailer’s stock valued at $13,631,000 after purchasing an additional 52 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Costco Wholesale by 4.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 54,977 shares of the retailer’s stock worth $48,739,000 after purchasing an additional 2,517 shares in the last quarter. Pachira Investments Inc. grew its stake in Costco Wholesale by 4.8% during the 3rd quarter. Pachira Investments Inc. now owns 1,090 shares of the retailer’s stock worth $966,000 after buying an additional 50 shares during the last quarter. Finally, Inspire Advisors LLC purchased a new stake in Costco Wholesale in the third quarter valued at about $214,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In other news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the transaction, the executive vice president now directly owns 22,900 shares in the company, valued at $20,015,745. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. This represents 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 500 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the transaction, the executive vice president now directly owns 22,900 shares in the company, valued at $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,224 shares of company stock valued at $9,974,973. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

COST has been the subject of several research analyst reports. Evercore ISI increased their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Bank of America raised their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. DA Davidson reissued a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a report on Thursday, October 10th. Wells Fargo & Company raised 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. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research note on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $890.07.

Costco Wholesale Trading Up 0.5 %

Shares of Costco Wholesale stock opened at $889.56 on Friday. Costco Wholesale Co. has a twelve month low of $540.23 and a twelve month high of $923.83. The firm’s 50-day moving average price is $889.26 and its 200 day moving average price is $832.21. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $394.14 billion, a PE ratio of 53.69, a P/E/G ratio of 5.48 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, 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 firm had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the company posted $4.86 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Costco Wholesale Co. will post 17.74 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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