Costco Wholesale Co. (NASDAQ:COST) Position Reduced by Patron Partners LLC

Patron Partners LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,471 shares of the retailer’s stock after selling 57 shares during the period. Costco Wholesale comprises approximately 2.7% of Patron Partners LLC’s investment portfolio, making the stock its 6th largest holding. Patron Partners LLC’s holdings in Costco Wholesale were worth $4,850,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Financial Connections Group Inc. raised 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 valued at $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of Costco Wholesale in the 2nd quarter worth $48,000. Ruedi Wealth Management Inc. increased its stake in shares of Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Costco Wholesale in the 2nd quarter worth $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the 3rd quarter worth $58,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

COST stock opened at $932.88 on Tuesday. The stock has a 50-day moving average price of $894.30 and a two-hundred day moving average price of $854.01. Costco Wholesale Co. has a 12-month low of $572.24 and a 12-month high of $962.00. 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 company has a market cap of $413.33 billion, a PE ratio of 56.30, a price-to-earnings-growth ratio of 5.81 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the prior year, the business earned $4.86 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. As a group, research analysts predict that Costco Wholesale Co. will post 17.75 EPS 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 given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COST. Evercore ISI increased their price target on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a report on Tuesday, September 24th. The Goldman Sachs Group increased their price target on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Loop Capital increased their price target on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, DA Davidson restated a “neutral” rating and set a $880.00 target price on shares of Costco Wholesale in a report on Thursday, October 10th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $905.30.

Insider Transactions at Costco Wholesale

In other news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. This 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 at this hyperlink. In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan L. Decker sold 620 shares of the 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 transaction, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,136 shares of company stock valued at $10,806,570 over the last quarter. Company insiders own 0.18% of the company’s stock.

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.