Chaney Capital Management Inc. Has $905,000 Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Chaney Capital Management Inc. boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,021 shares of the retailer’s stock after buying an additional 26 shares during the period. Costco Wholesale comprises approximately 0.5% of Chaney Capital Management Inc.’s investment portfolio, making the stock its 18th biggest position. Chaney Capital Management Inc.’s holdings in Costco Wholesale were worth $905,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of COST. Financial Connections Group Inc. boosted its holdings in Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the period. Bank & Trust Co bought a new stake in Costco Wholesale in the 2nd quarter valued at about $48,000. Ruedi Wealth Management Inc. boosted its holdings in 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 period. Summit Securities Group LLC bought a new stake in Costco Wholesale in the 2nd quarter valued at about $50,000. Finally, Fairway Wealth LLC lifted its holdings 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 acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity

In other news, Director Susan L. Decker sold 620 shares of Costco Wholesale 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 directly owns 11,775 shares in the company, valued at $10,320,787.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Susan L. Decker sold 620 shares of Costco Wholesale 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 directly owns 11,775 shares in the company, valued at $10,320,787.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the transaction, the executive vice president now owns 10,202 shares of the company’s stock, valued at $9,091,512.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,636 shares of company stock worth $11,238,510 over the last three months. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COST. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Redburn Atlantic downgraded shares of Costco Wholesale from a “buy” rating to a “neutral” rating and upped their price target for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a report on Thursday, October 17th. DA Davidson reaffirmed a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Finally, Truist Financial cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a research report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $905.30.

Costco Wholesale Stock Down 0.3 %

Shares of NASDAQ COST opened at $875.00 on Monday. The firm has a market cap of $387.69 billion, a PE ratio of 52.95, a P/E/G ratio of 5.38 and a beta of 0.80. Costco Wholesale Co. has a 12-month low of $560.13 and a 12-month high of $923.83. The company’s fifty day simple moving average is $892.20 and its 200 day simple moving average is $845.83. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.86 earnings per share. As a group, sell-side analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal 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 paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) 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.