Processus Wealth & Capital Management LLC Lowers Stake in Costco Wholesale Co. (NASDAQ:COST)

Processus Wealth & Capital Management LLC reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,790 shares of the retailer’s stock after selling 299 shares during the quarter. Costco Wholesale accounts for approximately 3.5% of Processus Wealth & Capital Management LLC’s holdings, making the stock its 8th biggest position. Processus Wealth & Capital Management LLC’s holdings in Costco Wholesale were worth $4,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Financial Connections Group Inc. lifted its position in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at about $48,000. Ruedi Wealth Management Inc. grew its stake 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 valued at $50,000 after acquiring an additional 25 shares during the period. Summit Securities Group LLC purchased a new stake in Costco Wholesale in the 2nd quarter worth approximately $50,000. Finally, Fairway Wealth LLC raised its stake in Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after acquiring an additional 46 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 3.3 %

Shares of COST opened at $943.80 on Friday. Costco Wholesale Co. has a twelve month low of $562.01 and a twelve month high of $962.00. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $893.49 and its 200-day simple moving average is $850.73. The company has a market cap of $418.17 billion, a P/E ratio of 56.96, a P/E/G ratio of 5.53 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. The business 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 firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.86 earnings per share. As a group, analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Analyst Ratings Changes

COST has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Stifel Nicolaus upped their target price on shares of Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. DA Davidson reissued a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. TD Cowen upped their price objective on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Sanford C. Bernstein started coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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 on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This trade represents a 0.00 % 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. In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock worth $11,238,510 over the last quarter. Company 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.