NorthRock Partners LLC Cuts Stake in Costco Wholesale Co. (NASDAQ:COST)

NorthRock Partners LLC lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 23.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,977 shares of the retailer’s stock after selling 1,529 shares during the quarter. NorthRock Partners LLC’s holdings in Costco Wholesale were worth $4,412,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of COST. Financial Connections Group Inc. increased its stake in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares during the period. Bank & Trust Co acquired a new position in Costco Wholesale during the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. raised its holdings 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 valued at $50,000 after purchasing an additional 25 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale during the 2nd quarter worth $50,000. Finally, Fairway Wealth LLC grew its stake in shares of Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 approximately $9,155,409.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,636 shares of company stock valued at $11,238,510. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Performance

Costco Wholesale stock traded up $5.51 during trading hours on Tuesday, reaching $891.58. 222,158 shares of the stock were exchanged, compared to its average volume of 1,912,877. The stock has a market cap of $395.03 billion, a P/E ratio of 53.47, a P/E/G ratio of 5.40 and a beta of 0.80. The firm’s 50 day moving average is $892.07 and its 200 day moving average is $847.07. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a 52-week low of $560.13 and a 52-week high of $923.83.

Costco Wholesale (NASDAQ:COST) last announced 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 company 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 previous year, the company earned $4.86 EPS. Analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Analysts Set New Price Targets

A number of analysts have issued reports on COST shares. Wells Fargo & Company lifted their price target on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target for the company in a report on Thursday, August 8th. Barclays increased their price target on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Redburn Atlantic cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating and upped their target price for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $980.00 target price (up from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $905.30.

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.