Western Pacific Wealth Management LP Acquires 57 Shares of Costco Wholesale Co. (NASDAQ:COST)

Western Pacific Wealth Management LP lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,024 shares of the retailer’s stock after purchasing an additional 57 shares during the period. Costco Wholesale accounts for approximately 1.2% of Western Pacific Wealth Management LP’s portfolio, making the stock its 13th biggest holding. Western Pacific Wealth Management LP’s holdings in Costco Wholesale were worth $1,794,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Resurgent Financial Advisors LLC grew its position in Costco Wholesale by 1.0% during the first quarter. Resurgent Financial Advisors LLC now owns 1,371 shares of the retailer’s stock worth $1,004,000 after buying an additional 14 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Costco Wholesale by 22.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 7,719 shares of the retailer’s stock worth $5,655,000 after buying an additional 1,408 shares in the last quarter. Empowered Funds LLC grew its position in Costco Wholesale by 47.9% during the first quarter. Empowered Funds LLC now owns 8,507 shares of the retailer’s stock worth $6,232,000 after buying an additional 2,757 shares in the last quarter. Sustainable Insight Capital Management LLC acquired a new stake in Costco Wholesale during the first quarter worth about $219,000. Finally, Highland Capital Management LLC grew its position in Costco Wholesale by 1.7% during the first quarter. Highland Capital Management LLC now owns 38,814 shares of the retailer’s stock worth $28,436,000 after buying an additional 650 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COST. Sanford C. Bernstein began coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 target price on the stock. Stifel Nicolaus lifted their target price on Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI lifted their target price on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, TD Cowen lifted their price objective on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $905.30.

Insider Activity

In related news, EVP Richard A. Galanti sold 1,416 shares of the firm’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 sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the sale, the executive vice president now owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was 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 directly owns 27,400 shares in the company, valued at $24,514,232. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock valued at $11,238,510 in the last 90 days. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Performance

COST stock opened at $913.93 on Friday. The business’s fifty day moving average is $891.92 and its 200-day moving average is $848.69. 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 company has a market cap of $404.93 billion, a P/E ratio of 55.16, a price-to-earnings-growth ratio of 5.45 and a beta of 0.80. Costco Wholesale Co. has a twelve month low of $562.01 and a twelve month high of $923.83.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The company 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 firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.86 EPS. Equities research analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Costco Wholesale 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.