Costco Wholesale Co. (NASDAQ:COST) Stake Lifted by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,494 shares of the retailer’s stock after purchasing an additional 1,801 shares during the period. Costco Wholesale accounts for about 0.6% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 28th largest holding. Pinnacle Financial Partners Inc’s holdings in Costco Wholesale were worth $32,353,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. raised its holdings in shares of 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 purchasing an additional 39 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of Costco Wholesale during the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. boosted 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 worth $50,000 after acquiring an additional 25 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Costco Wholesale during the 2nd quarter worth $50,000. Finally, Fairway Wealth LLC grew its holdings in shares of Costco Wholesale by 230.0% in 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 last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the sale, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on 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 directly owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,136 shares of company stock valued at $10,806,570. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Down 0.1 %

Shares of COST stock opened at $932.38 on Wednesday. The stock’s 50 day simple moving average is $895.38 and its 200 day simple moving average is $855.44. Costco Wholesale Co. has a twelve month low of $572.24 and a twelve month high of $962.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The company has a market capitalization of $413.11 billion, a price-to-earnings ratio of 56.27, a PEG ratio of 5.76 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The company 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%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.86 earnings per share. As a group, research analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Oppenheimer boosted their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $980.00 price objective (up previously from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Redburn Atlantic cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. Finally, Tigress Financial restated a “buy” rating and issued a $1,065.00 target price on shares of Costco Wholesale in a report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $905.30.

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.