Crewe Advisors LLC Cuts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Crewe Advisors LLC trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 33.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,805 shares of the retailer’s stock after selling 895 shares during the period. Crewe Advisors LLC’s holdings in Costco Wholesale were worth $1,600,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Financial Connections Group Inc. boosted its holdings in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co bought a new position in shares of Costco Wholesale during the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. boosted its stake in shares of Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after buying an additional 25 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the second quarter worth $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Costco Wholesale during the third quarter valued at $58,000. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on 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 sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,016 shares of company stock worth $9,826,115 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.9 %

Shares of Costco Wholesale stock opened at $964.01 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The firm has a market cap of $427.12 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 5.90 and a beta of 0.80. Costco Wholesale Co. has a twelve month low of $582.83 and a twelve month high of $976.30. The business has a 50-day moving average price of $901.18 and a 200-day moving average price of $865.47.

Costco Wholesale (NASDAQ:COST) last released 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 business had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the previous year, the company posted $4.86 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 dividend yield of 0.48%. Costco Wholesale’s payout ratio is currently 28.00%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COST. TD Cowen raised their target price on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group upped their target price on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Melius Research initiated coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price target on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $908.81.

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.