Turtle Creek Wealth Advisors LLC Grows Holdings in Costco Wholesale Co. (NASDAQ:COST)

Turtle Creek Wealth Advisors LLC boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.5% in the 3rd quarter, Holdings Channel reports. The firm owned 8,949 shares of the retailer’s stock after purchasing an additional 130 shares during the period. Costco Wholesale comprises about 1.6% of Turtle Creek Wealth Advisors LLC’s portfolio, making the stock its 13th largest holding. Turtle Creek Wealth Advisors LLC’s holdings in Costco Wholesale were worth $7,933,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Connections Group Inc. grew its position in shares of 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 buying an additional 39 shares in the last quarter. Bank & Trust Co purchased a new stake in Costco Wholesale in the second quarter valued at $48,000. Ruedi Wealth Management Inc. grew its holdings in shares of 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 last quarter. Summit Securities Group LLC purchased a new position in shares of Costco Wholesale during the second quarter worth about $50,000. Finally, Fairway Wealth LLC increased its position in shares of Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Down 1.8 %

NASDAQ:COST traded down $16.82 on Friday, hitting $907.07. 2,269,945 shares of the stock were exchanged, compared to its average volume of 1,930,030. The stock has a fifty day moving average of $897.62 and a 200-day moving average of $857.72. The stock has a market cap of $401.90 billion, a PE ratio of 54.74, a PEG ratio of 5.76 and a beta of 0.80. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a fifty-two week low of $572.24 and a fifty-two week high of $962.00.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter last year, the company earned $4.86 earnings per share. Costco Wholesale’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities 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 dividend on an annualized basis and a yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.

Analyst Ratings Changes

COST has been the subject of a number of research reports. Loop Capital boosted their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target for the company in a research report on Thursday, August 8th. Tigress Financial reissued a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 17th. Morgan Stanley upped their target price on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Finally, Oppenheimer raised their price target on Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $905.30.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the transaction, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. This represents a 4.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at $9,091,512.30. The trade was a 30.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,016 shares of company stock valued at $9,826,115 over the last three months. 0.18% of the stock is owned by insiders.

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.