Financial Insights Inc. Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

Financial Insights Inc. lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 37.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,838 shares of the retailer’s stock after selling 1,700 shares during the quarter. Costco Wholesale makes up 0.8% of Financial Insights Inc.’s portfolio, making the stock its 27th largest holding. Financial Insights Inc.’s holdings in Costco Wholesale were worth $2,516,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale during the 1st quarter valued at $32,000. Financial Connections Group Inc. lifted its stake in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. lifted its stake in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at $50,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at $9,091,512.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the sale, the executive vice president now owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at $9,091,512.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,224 shares of company stock valued at $9,974,973 in the last three months. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on COST shares. BMO Capital Markets restated an “outperform” rating and set a $980.00 target price (up previously from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Stifel Nicolaus lifted their price target on shares of Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Bank of America lifted their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Finally, Robert W. Baird lifted their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $894.57.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $893.49 on Wednesday. The company has a market capitalization of $395.88 billion, a price-to-earnings ratio of 53.92, a PEG ratio of 5.47 and a beta of 0.80. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. The firm’s 50-day moving average is $890.30 and its 200 day moving average is $836.49. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last issued 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. The company had revenue of $79.70 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $4.86 EPS. Research analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The business 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. The ex-dividend date is Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) 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.