Diversify Wealth Management LLC Decreases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Diversify Wealth Management LLC lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,835 shares of the retailer’s stock after selling 314 shares during the period. Diversify Wealth Management LLC’s holdings in Costco Wholesale were worth $7,045,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in COST. Financial Connections Group Inc. boosted its holdings in Costco Wholesale by 557.1% in 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 acquired a new position in shares of Costco Wholesale during the second quarter worth $48,000. Ruedi Wealth Management Inc. boosted its stake in shares of Costco Wholesale by 73.5% in the second 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 $50,000. Finally, Fairway Wealth LLC increased 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 buying an additional 46 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

COST opened at $879.09 on Thursday. 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 business’s 50 day moving average is $892.30 and its 200-day moving average is $842.70. The stock has a market cap of $389.50 billion, a PE ratio of 53.05, a price-to-earnings-growth ratio of 5.48 and a beta of 0.80. Costco Wholesale Co. has a twelve month low of $549.06 and a twelve month high of $923.83.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) 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 analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.86 EPS. On average, analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.53%. Costco Wholesale’s payout ratio is 28.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on COST shares. The Goldman Sachs Group upped their price objective on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Telsey Advisory Group reissued an “outperform” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Melius Research began coverage on Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective on the stock. Evercore ISI increased their target price on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $894.57.

Insiders Place Their Bets

In other news, Director Susan L. Decker sold 620 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,636 shares of company stock worth $11,238,510. 0.18% of the stock is 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.