Buckley Wealth Management LLC reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,937 shares of the retailer’s stock after selling 1,603 shares during the period. Costco Wholesale accounts for approximately 1.4% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 20th biggest holding. Buckley Wealth Management LLC’s holdings in Costco Wholesale were worth $2,863,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Successful Portfolios LLC grew its stake in shares of Costco Wholesale by 4.7% in the 3rd quarter. Successful Portfolios LLC now owns 949 shares of the retailer’s stock valued at $273,000 after buying an additional 43 shares during the period. Clarus Wealth Advisors grew its stake in shares of Costco Wholesale by 42.9% in the 3rd quarter. Clarus Wealth Advisors now owns 3,248 shares of the retailer’s stock valued at $936,000 after buying an additional 975 shares during the period. Northside Capital Management LLC acquired a new stake in shares of Costco Wholesale in the 3rd quarter valued at about $559,000. CLARET ASSET MANAGEMENT Corp acquired a new stake in shares of Costco Wholesale in the 3rd quarter valued at about $241,000. Finally, Welch & Forbes LLC grew its stake in shares of Costco Wholesale by 0.3% in the 3rd quarter. Welch & Forbes LLC now owns 112,364 shares of the retailer’s stock valued at $32,373,000 after buying an additional 297 shares during the period. Institutional investors own 71.07% of the company’s stock.
In other Costco Wholesale news, VP Paul G. Moulton sold 5,976 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $298.06, for a total transaction of $1,781,206.56. Following the transaction, the vice president now owns 36,010 shares of the company’s stock, valued at approximately $10,733,140.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is owned by company insiders.
Shares of Costco Wholesale stock traded up $0.46 during mid-day trading on Friday, hitting $297.60. 1,855,358 shares of the stock were exchanged, compared to its average volume of 2,572,359. Costco Wholesale Co. has a 12 month low of $189.51 and a 12 month high of $307.34. The company has a 50-day simple moving average of $290.11 and a 200 day simple moving average of $265.69. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 1.01. The company has a market capitalization of $128.37 billion, a P/E ratio of 36.34, a P/E/G ratio of 4.00 and a beta of 0.94.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, October 3rd. The retailer reported $2.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.54 by $0.15. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The firm had revenue of $47.50 billion for the quarter, compared to analysts’ expectations of $47.71 billion. During the same quarter last year, the firm earned $2.36 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts predict that Costco Wholesale Co. will post 8.6 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 0.87%. Costco Wholesale’s dividend payout ratio is currently 31.75%.
COST has been the subject of several research reports. Tigress Financial restated a “buy” rating on shares of Costco Wholesale in a research note on Friday, June 28th. BMO Capital Markets raised their target price on Costco Wholesale from $275.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Bank of America raised their target price on Costco Wholesale from $310.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Loop Capital raised their target price on Costco Wholesale to $330.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Raymond James raised their target price on Costco Wholesale from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $293.13.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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