REDW Wealth LLC Has $943,000 Position in Costco Wholesale Co. (NASDAQ:COST)

REDW Wealth LLC reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,064 shares of the retailer’s stock after selling 38 shares during the quarter. REDW Wealth LLC’s holdings in Costco Wholesale were worth $943,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Financial Connections Group Inc. raised its stake in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of Costco Wholesale in the second quarter valued at $48,000. Ruedi Wealth Management Inc. increased 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 buying an additional 25 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Costco Wholesale in the second quarter valued at $50,000. Finally, Fairway Wealth LLC increased its stake in shares of Costco Wholesale by 230.0% in the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after buying an additional 46 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Up 0.5 %

Shares of Costco Wholesale stock opened at $877.31 on Friday. The business’s 50 day simple moving average is $892.20 and its 200 day simple moving average is $844.92. Costco Wholesale Co. has a 52-week low of $552.01 and a 52-week high of $923.83. The firm has a market cap of $388.71 billion, a PE ratio of 52.95, a P/E/G ratio of 5.38 and a beta of 0.80. 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 (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 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 company had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter in the prior year, the business posted $4.86 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. On average, analysts predict that Costco Wholesale Co. will post 17.75 earnings per share 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. Stockholders 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 dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction 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 sale, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Susan L. Decker sold 620 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their position. 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 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of research reports. Stifel Nicolaus raised their target price on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Evercore ISI raised 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. BMO Capital Markets restated an “outperform” rating and issued a $980.00 target price (up from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised their price target on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, DA Davidson reiterated a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $905.30.

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.