Intact Investment Management Inc. Acquires New Holdings in Costco Wholesale Co. (NASDAQ:COST)

Intact Investment Management Inc. acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 440 shares of the retailer’s stock, valued at approximately $390,000.

Several other institutional investors also recently bought and sold shares of the business. Financial Connections Group Inc. boosted its stake in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares in the last quarter. Bank & Trust Co acquired a new stake in Costco Wholesale in the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. boosted its stake in Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after acquiring an additional 25 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Costco Wholesale in the second quarter valued at approximately $50,000. Finally, Fairway Wealth LLC boosted its stake in Costco Wholesale by 230.0% in the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after acquiring an additional 46 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Costco Wholesale

In other news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the sale, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,636 shares of company stock valued at $11,238,510 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. TD Cowen raised their target price on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Evercore ISI lifted their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Oppenheimer lifted their price objective on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Roth Mkm lifted their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $905.30.

Costco Wholesale Stock Up 0.5 %

COST opened at $890.17 on Wednesday. The stock has a market capitalization of $394.41 billion, a price-to-earnings ratio of 53.72, a PEG ratio of 5.40 and a beta of 0.80. The company has a fifty day moving average of $891.70 and a two-hundred day moving average of $848.34. 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 fifty-two week low of $560.13 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 business had revenue of $79.70 billion during 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 company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.86 earnings per share. On average, research analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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