ORG Wealth Partners LLC Acquires New Position in Costco Wholesale Co. (NASDAQ:COST)

ORG Wealth Partners LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 176 shares of the retailer’s stock, valued at approximately $156,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wulff Hansen & CO. increased its holdings in Costco Wholesale by 99,208.6% in the second quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after buying an additional 1,473,248 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Costco Wholesale in the first quarter valued at about $510,353,000. Assenagon Asset Management S.A. increased its holdings in Costco Wholesale by 287.3% in the second quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after buying an additional 620,341 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in Costco Wholesale by 51,747.5% in the second quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock valued at $5,266,000 after buying an additional 618,383 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Costco Wholesale by 1.2% in the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after buying an additional 473,702 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Loop Capital increased their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a research note on Thursday, August 8th. Melius Research started coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective for the company. Truist Financial cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a research note on Tuesday, September 24th. Finally, Evercore ISI raised their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $886.74.

Costco Wholesale Price Performance

COST opened at $889.76 on Tuesday. The company has a 50-day moving average of $884.56 and a 200-day moving average of $829.12. The company has a market capitalization of $394.46 billion, a P/E ratio of 55.13, a PEG ratio of 5.53 and a beta of 0.80. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. 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 (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share 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 company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the previous year, the firm earned $4.86 EPS. The company’s revenue was up 1.0% on a year-over-year basis. Equities analysts expect that Costco Wholesale Co. will post 17.73 EPS for the current fiscal year.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the transaction, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at $20,015,745. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,824 shares of company stock valued at $4,260,493 in the last quarter. Insiders own 0.18% of the company’s stock.

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.