Geneva Capital Management LLC Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

Geneva Capital Management LLC cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,751 shares of the retailer’s stock after selling 412 shares during the period. Geneva Capital Management LLC’s holdings in Costco Wholesale were worth $4,212,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Financial Connections Group Inc. lifted its stake in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares during the last quarter. Bank & Trust Co purchased a new position in Costco Wholesale during the 2nd quarter worth $48,000. Ruedi Wealth Management Inc. increased its stake in Costco Wholesale by 73.5% in the second 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 purchased a new stake in shares of Costco Wholesale in the second quarter valued at about $50,000. Finally, Fairway Wealth LLC boosted 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 buying an additional 46 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on COST shares. Morgan Stanley boosted their price target on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. 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. Melius Research initiated coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research report on Monday, November 4th. Finally, 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 report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $905.30.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $932.38 on Wednesday. The company has a 50-day simple moving average of $894.30 and a 200-day simple moving average of $854.01. 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 company has a market cap of $413.11 billion, a PE ratio of 56.27, a price-to-earnings-growth ratio of 5.76 and a beta of 0.80. Costco Wholesale Co. has a 12 month low of $572.24 and a 12 month high of $962.00.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same period in the previous year, the company earned $4.86 EPS. Costco Wholesale’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling at Costco Wholesale

In related news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction on 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 directly owns 22,900 shares in the company, valued at $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,136 shares of company stock worth $10,806,570 in the last 90 days. 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.