Strait & Sound Wealth Management LLC Has $5.10 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Strait & Sound Wealth Management LLC lowered its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,755 shares of the retailer’s stock after selling 97 shares during the quarter. Costco Wholesale makes up approximately 2.5% of Strait & Sound Wealth Management LLC’s holdings, making the stock its 8th biggest position. Strait & Sound Wealth Management LLC’s holdings in Costco Wholesale were worth $5,102,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new stake in Costco Wholesale during the 3rd quarter worth approximately $29,000. Financial Connections Group Inc. increased its stake in shares of Costco Wholesale by 557.1% in the second 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. Ruedi Wealth Management Inc. raised its position 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 valued at $50,000 after purchasing an additional 25 shares during the period. Summit Securities Group LLC bought a new position in Costco Wholesale in the 2nd quarter worth $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Costco Wholesale in the 3rd quarter worth $58,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $987.86 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The stock has a market cap of $437.69 billion, a price-to-earnings ratio of 59.62, a price-to-earnings-growth ratio of 6.05 and a beta of 0.82. The firm has a 50-day moving average of $917.82 and a two-hundred day moving average of $880.63. Costco Wholesale Co. has a 1 year low of $618.76 and a 1 year high of $997.71.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data 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 company had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.86 earnings per share. On average, research analysts forecast that Costco Wholesale Co. will post 17.74 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.47%. Costco Wholesale’s payout ratio is currently 28.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on COST shares. Jefferies Financial Group upped their price objective on Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Robert W. Baird upped their price target on Costco Wholesale from $975.00 to $1,075.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Morgan Stanley lifted their price objective on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. TD Cowen upped their target price on shares of Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Sanford C. Bernstein started coverage on shares of Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $928.50.

Insider Buying and Selling

In other news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. The trade was a 30.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 10,210 shares in the company, valued at approximately $9,155,409.10. This represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,016 shares of company stock valued at $9,826,115 over the last three months. 0.18% of the stock is owned by company insiders.

Costco Wholesale Company 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.