Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Skye Global Management LP

Skye Global Management LP cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 51.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,400 shares of the retailer’s stock after selling 4,620 shares during the period. Costco Wholesale makes up 0.1% of Skye Global Management LP’s investment portfolio, making the stock its 29th biggest holding. Skye Global Management LP’s holdings in Costco Wholesale were worth $3,901,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in COST. Fermata Advisors LLC increased its position in shares of Costco Wholesale by 0.6% during the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after purchasing an additional 11 shares during the period. Oak Asset Management LLC lifted its stake in Costco Wholesale by 0.3% during the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares during the last quarter. Peddock Capital Advisors LLC boosted its position in shares of Costco Wholesale by 0.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares during the period. Perkins Coie Trust Co increased its position in shares of Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after acquiring an additional 12 shares in the last quarter. Finally, Firethorn Wealth Partners LLC raised its holdings in shares of Costco Wholesale by 3.5% during the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after acquiring an additional 12 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 1.0 %

Shares of NASDAQ COST opened at $961.55 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm’s 50-day simple moving average is $906.32 and its 200 day simple moving average is $870.06. Costco Wholesale Co. has a 12-month low of $582.83 and a 12-month high of $976.30. The company has a market cap of $426.03 billion, a price-to-earnings ratio of 58.03, a price-to-earnings-growth ratio of 5.93 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.86 earnings per share. On average, research analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on COST shares. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research report on Thursday, August 8th. Barclays raised their price objective on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. DA Davidson reissued a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a research report on Tuesday, September 24th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $1,065.00 price target on shares of Costco Wholesale in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $908.81.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the sale, the executive vice president now owns 10,210 shares in the company, valued at $9,155,409.10. This represents a 16.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is currently owned by company insiders.

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.