Concorde Asset Management LLC Acquires 22 Shares of Costco Wholesale Co. (NASDAQ:COST)

Concorde Asset Management LLC boosted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 3.0% in the third quarter, Holdings Channel reports. The institutional investor owned 753 shares of the retailer’s stock after buying an additional 22 shares during the period. Concorde Asset Management LLC’s holdings in Costco Wholesale were worth $668,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Financial Connections Group Inc. increased its position in Costco Wholesale by 557.1% during 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 period. Bank & Trust Co acquired a new stake in Costco Wholesale during the 2nd quarter valued at approximately $48,000. Ruedi Wealth Management Inc. increased its position in 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 purchasing an additional 25 shares during the period. Summit Securities Group LLC acquired a new stake in Costco Wholesale during the 2nd quarter valued at approximately $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Costco Wholesale during the 3rd quarter worth approximately $58,000. Institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 17th. DA Davidson reiterated a “neutral” rating and issued a $880.00 target price on shares of Costco Wholesale in a report on Thursday, October 10th. The Goldman Sachs Group increased their target price on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company increased their target price on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $908.81.

Costco Wholesale Stock Up 3.3 %

Shares of NASDAQ COST opened at $958.25 on Friday. Costco Wholesale Co. has a 12 month low of $582.83 and a 12 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 firm has a market capitalization of $424.57 billion, a price-to-earnings ratio of 57.83, a PEG ratio of 5.74 and a beta of 0.80. The business has a 50-day moving average of $900.22 and a 200-day moving average of $863.38.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.86 EPS. Sell-side analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at $9,155,409.10. This represents a 16.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction 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 approximately $7,671,983.70. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,016 shares of company stock valued at $9,826,115 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.