Alta Wealth Advisors LLC Cuts Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Alta Wealth Advisors LLC trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,609 shares of the retailer’s stock after selling 15 shares during the period. Costco Wholesale accounts for about 1.9% of Alta Wealth Advisors LLC’s holdings, making the stock its 12th biggest holding. Alta Wealth Advisors LLC’s holdings in Costco Wholesale were worth $4,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Strong Tower Advisory Services lifted its position in shares of Costco Wholesale by 7.9% during the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after purchasing an additional 137 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after buying an additional 932 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in Costco Wholesale by 52.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after buying an additional 2,620 shares in the last quarter. Patton Fund Management Inc. purchased a new position in Costco Wholesale in the 3rd quarter valued at about $6,424,000. Finally, Main Street Financial Solutions LLC grew its stake in shares of Costco Wholesale by 22.8% during the second quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock valued at $3,003,000 after acquiring an additional 656 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Up 0.5 %

Shares of Costco Wholesale stock opened at $889.56 on Friday. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. The company has a market capitalization of $394.37 billion, a P/E ratio of 55.12, a PEG ratio of 5.48 and a beta of 0.80. The business’s fifty day moving average price is $889.26 and its two-hundred day moving average price is $833.05. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $4.86 EPS. As a group, research analysts forecast that Costco Wholesale Co. will post 17.74 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.52%. Costco Wholesale’s payout ratio is 28.75%.

Analysts Set New Price Targets

A number of research analysts recently commented on COST shares. Robert W. Baird increased their price target on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $860.00 to $890.00 in a research note on Tuesday, September 10th. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Bank of America lifted their price target on Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, DA Davidson restated a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $890.07.

Insiders Place Their Bets

In other news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on 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 directly owns 22,900 shares in the company, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the executive vice president now directly owns 10,210 shares in the company, valued at $9,155,409.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,224 shares of company stock worth $9,974,973 over the last ninety days. Company insiders own 0.18% of the company’s stock.

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.