Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Manchester Financial Inc.

Manchester Financial Inc. decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 2.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,881 shares of the retailer’s stock after selling 175 shares during the period. Costco Wholesale comprises approximately 1.3% of Manchester Financial Inc.’s portfolio, making the stock its 13th biggest holding. Manchester Financial Inc.’s holdings in Costco Wholesale were worth $6,100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale in the first quarter valued at $32,000. Financial Connections Group Inc. boosted its holdings 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 valued at $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. increased its holdings in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after buying an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in Costco Wholesale in the second quarter valued at $50,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the transaction, the executive vice president now owns 23,800 shares of the company’s stock, valued at $20,560,344. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction dated 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 transaction, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at $24,514,232. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the sale, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,636 shares of company stock worth $11,238,510. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Trading Down 0.2 %

Shares of NASDAQ:COST opened at $891.22 on Monday. The stock’s 50-day moving average is $891.76 and its 200-day moving average is $840.23. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83. The company has a market cap of $395.11 billion, a P/E ratio of 55.22, a P/E/G ratio of 5.50 and a beta of 0.80. 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 issued its quarterly earnings results 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 firm had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.86 EPS. Equities research analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Bank of America increased their price target on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Oppenheimer raised their price objective on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $894.57.

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.