Rench Wealth Management Inc. Has $6.26 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Rench Wealth Management Inc. grew its position in Costco Wholesale Co. (NASDAQ:COST) by 10.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,056 shares of the retailer’s stock after buying an additional 674 shares during the period. Costco Wholesale accounts for approximately 2.1% of Rench Wealth Management Inc.’s investment portfolio, making the stock its 19th largest holding. Rench Wealth Management Inc.’s holdings in Costco Wholesale were worth $6,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in COST. RPg Family Wealth Advisory LLC acquired a new stake in shares of Costco Wholesale in the 3rd quarter valued at $29,000. Financial Connections Group Inc. boosted its position 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 during the last quarter. Ruedi Wealth Management Inc. boosted its position 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 worth $50,000 after purchasing an additional 25 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Costco Wholesale in the 2nd quarter worth $50,000. Finally, Fairway Wealth LLC boosted its position 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 purchasing an additional 46 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, 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 transaction, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This represents a 16.38 % 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 this link. Also, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now directly owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,016 shares of company stock valued at $9,826,115 over the last 90 days. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Price Performance

NASDAQ:COST opened at $990.92 on Thursday. 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 stock’s 50-day simple moving average is $912.04 and its 200 day simple moving average is $876.08. The company has a market cap of $439.05 billion, a P/E ratio of 59.80, a P/E/G ratio of 6.06 and a beta of 0.82. Costco Wholesale Co. has a 52-week low of $597.03 and a 52-week high of $991.15.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.86 earnings per share. As a group, sell-side analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Analysts Set New Price Targets

COST has been the topic of several recent research reports. TD Cowen raised their price target on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets raised their price target on Costco Wholesale from $980.00 to $1,075.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Morgan Stanley raised their price target on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Barclays lifted their target price on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a report on Friday, November 29th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $908.81.

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.