Avidian Wealth Enterprises LLC Raises Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Avidian Wealth Enterprises LLC raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,847 shares of the retailer’s stock after purchasing an additional 103 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Costco Wholesale were worth $1,638,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Oppenheimer upped their target price on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price on the stock. in a research note on Tuesday, September 24th. TD Cowen increased their price target on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Robert W. Baird lifted their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $905.30.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $899.25 on Thursday. The firm has a market capitalization of $398.43 billion, a PE ratio of 54.27, a price-to-earnings-growth ratio of 5.45 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 business’s fifty day moving average price is $891.92 and its 200 day moving average price is $848.69. Costco Wholesale Co. has a 12 month low of $562.01 and a 12 month high of $923.83.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion for 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 business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $4.86 EPS. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.

Insider Buying and Selling

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of the sale, the executive vice president now owns 23,800 shares in the company, valued at $20,560,344. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,636 shares of company stock worth $11,238,510 in the last ninety days. 0.18% of the stock is owned by corporate 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.