CMG Global Holdings LLC Decreases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

CMG Global Holdings LLC lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 913 shares of the retailer’s stock after selling 20 shares during the period. CMG Global Holdings LLC’s holdings in Costco Wholesale were worth $809,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Financial Connections Group Inc. grew its stake in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Bank & Trust Co purchased a new stake in Costco Wholesale during the second quarter valued at about $48,000. Ruedi Wealth Management Inc. boosted its position in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the period. Summit Securities Group LLC purchased a new position in shares of Costco Wholesale in the second quarter worth about $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Costco Wholesale in the third quarter valued at approximately $58,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 0.9 %

Shares of COST opened at $964.01 on Friday. 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 Co. has a fifty-two week low of $582.83 and a fifty-two week high of $976.30. The firm has a 50 day moving average price of $901.18 and a 200-day moving average price of $864.82. The firm has a market cap of $427.12 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 5.90 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, beating analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same period last year, the firm earned $4.86 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $1.16 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.48%. Costco Wholesale’s payout ratio is currently 28.00%.

Insider Activity

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the transaction, the executive vice president now directly owns 8,630 shares in the company, valued at $7,671,983.70. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COST. BMO Capital Markets lifted their price objective on shares of Costco Wholesale from $980.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. DA Davidson reiterated a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. The Goldman Sachs Group increased their price objective on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Oppenheimer lifted their target price on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $908.81.

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.