Transcendent Capital Group LLC Grows Position in Costco Wholesale Co. (NASDAQ:COST)

Transcendent Capital Group LLC lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 92.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 705 shares of the retailer’s stock after purchasing an additional 339 shares during the quarter. Transcendent Capital Group LLC’s holdings in Costco Wholesale were worth $625,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in COST. Financial Connections Group Inc. grew its stake in Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Bank & Trust Co acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. increased its holdings 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 worth $50,000 after buying an additional 25 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Costco Wholesale in the 2nd quarter worth $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Costco Wholesale in the third quarter valued at $58,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity

In related 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 sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the sale, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. 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. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on COST. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a report on Thursday, August 8th. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a research note on Tuesday, September 24th. Telsey Advisory Group restated an “outperform” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a research note on Monday, November 4th. Oppenheimer boosted their price objective on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein began coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price for the company. Ten 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $905.30.

Costco Wholesale Stock Up 3.3 %

COST opened at $943.80 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. Costco Wholesale Co. has a 12 month low of $562.01 and a 12 month high of $962.00. The stock’s 50 day moving average price is $893.49 and its 200 day moving average price is $850.73. The stock has a market cap of $418.17 billion, a P/E ratio of 56.96, a P/E/G ratio of 5.53 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The business 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 company’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.86 earnings per share. As a group, research analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date 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.