RWQ Financial Management Services Inc. Cuts Position in Costco Wholesale Co. (NASDAQ:COST)

RWQ Financial Management Services Inc. trimmed its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 90.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050 shares of the retailer’s stock after selling 9,919 shares during the period. Costco Wholesale makes up approximately 0.3% of RWQ Financial Management Services Inc.’s holdings, making the stock its 19th biggest holding. RWQ Financial Management Services Inc.’s holdings in Costco Wholesale were worth $931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Costco Wholesale by 62.8% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after buying an additional 932 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. grew its position in Costco Wholesale by 66.9% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock worth $2,738,000 after acquiring an additional 1,238 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in Costco Wholesale by 52.1% during the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after acquiring an additional 2,620 shares during the last quarter. Patton Fund Management Inc. purchased a new stake in Costco Wholesale during the third quarter valued at approximately $6,424,000. Finally, WestHill Financial Advisors Inc. lifted its stake in shares of Costco Wholesale by 328.4% in the 3rd quarter. WestHill Financial Advisors Inc. now owns 1,435 shares of the retailer’s stock valued at $1,272,000 after purchasing an additional 1,100 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Up 0.5 %

Shares of COST stock traded up $4.28 during mid-day trading on Friday, hitting $877.31. 1,625,161 shares of the stock traded hands, compared to its average volume of 1,551,299. Costco Wholesale Co. has a 52-week low of $552.01 and a 52-week high of $923.83. The stock has a market cap of $388.71 billion, a P/E 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 current ratio of 0.97 and a quick ratio of 0.44. The stock’s fifty day moving average is $892.20 and its two-hundred day moving average is $844.92.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate 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 net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $4.86 earnings per share. Equities analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Insiders Place Their Bets

In related news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale 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 completion of the sale, the executive vice president now directly owns 8,630 shares in the company, valued at $7,671,983.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,636 shares of company stock valued at $11,238,510. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

COST has been the topic of several analyst reports. Stifel Nicolaus boosted their target price on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays increased their target price on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Melius Research began coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target on the stock. Loop Capital raised their price objective on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $980.00 target price (up previously from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average target price of $905.30.

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.