Costco Wholesale Co. (NASDAQ:COST) Position Reduced by Elite Wealth Management Inc.

Elite Wealth Management Inc. lowered its stake in Costco Wholesale Co. (NASDAQ:COST) by 5.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,622 shares of the retailer’s stock after selling 355 shares during the period. Costco Wholesale accounts for approximately 0.8% of Elite Wealth Management Inc.’s holdings, making the stock its 15th biggest holding. Elite Wealth Management Inc.’s holdings in Costco Wholesale were worth $5,870,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. RPg Family Wealth Advisory LLC bought a new position in Costco Wholesale during the third quarter worth $29,000. Financial Connections Group Inc. lifted 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 acquiring an additional 39 shares during the last quarter. Bank & Trust Co acquired a new position in Costco Wholesale in the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. raised its position in shares of Costco Wholesale by 73.5% during the 2nd 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 period. Finally, Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Buying and Selling

In other news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This trade represents a 30.13 % 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. Also, EVP Claudine Adamo sold 3,200 shares of the 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 sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,016 shares of company stock valued at $9,826,115. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

COST has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Barclays increased their price objective on shares of Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a research note on Tuesday, September 24th. StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, The Goldman Sachs Group boosted their price objective on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $908.81.

Costco Wholesale Trading Down 1.0 %

NASDAQ:COST opened at $961.55 on Thursday. The stock’s 50-day moving average is $905.10 and its two-hundred day moving average is $869.42. 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 has a market cap of $426.03 billion, a PE ratio of 58.03, a price-to-earnings-growth ratio of 5.93 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $582.83 and a fifty-two week high of $976.30.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.86 earnings per share. As a group, equities research analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

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.