Deseret Mutual Benefit Administrators Sells 42 Shares of Costco Wholesale Co. (NASDAQ:COST)

Deseret Mutual Benefit Administrators reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,016 shares of the retailer’s stock after selling 42 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Costco Wholesale were worth $901,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COST. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings 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 valued at $2,143,000 after buying an additional 932 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. grew its stake in Costco Wholesale by 66.9% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock valued at $2,738,000 after acquiring an additional 1,238 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Costco Wholesale by 52.1% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after acquiring an additional 2,620 shares during the period. Patton Fund Management Inc. purchased a new stake in Costco Wholesale in the 3rd quarter worth approximately $6,424,000. Finally, WestHill Financial Advisors Inc. lifted its stake in Costco Wholesale by 328.4% in the 3rd quarter. WestHill Financial Advisors Inc. now owns 1,435 shares of the retailer’s stock worth $1,272,000 after purchasing an additional 1,100 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Down 0.0 %

NASDAQ:COST opened at $898.99 on Thursday. Costco Wholesale Co. has a 1-year low of $562.01 and a 1-year high of $923.83. The company has a market capitalization of $398.32 billion, a PE ratio of 54.27, a P/E/G ratio of 5.45 and a beta of 0.80. The firm’s 50-day moving average price is $891.92 and its 200-day moving average price is $848.69. 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 announced its 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. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter last year, the firm earned $4.86 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on COST shares. Bank of America upped their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Melius Research began coverage on Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price target on the stock. Loop Capital boosted their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research report on Thursday, August 8th. Finally, Oppenheimer lifted their target price on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $905.30.

Insiders Place Their Bets

In other news, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction 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 in the company, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,636 shares of company stock valued at $11,238,510. 0.18% of the stock is currently owned by corporate 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.