Providence Wealth Advisors LLC Decreases Holdings in Costco Wholesale Co. (NASDAQ:COST)

Providence Wealth Advisors LLC trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,260 shares of the retailer’s stock after selling 24 shares during the period. Providence Wealth Advisors LLC’s holdings in Costco Wholesale were worth $1,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its position in Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after purchasing an additional 324,973 shares during the period. International Assets Investment Management LLC lifted its holdings in Costco Wholesale by 113,947.9% in the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after buying an additional 7,364,453 shares in the last quarter. Legal & General Group Plc lifted its holdings in Costco Wholesale by 2.5% in the 2nd quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock worth $3,102,941,000 after buying an additional 88,550 shares in the last quarter. Jennison Associates LLC lifted its holdings in Costco Wholesale by 3.8% in the 3rd quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer’s stock worth $3,013,394,000 after buying an additional 125,444 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Costco Wholesale by 2.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,075,065 shares of the retailer’s stock valued at $2,726,107,000 after purchasing an additional 70,561 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the transaction, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,016 shares of company stock worth $9,826,115. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Down 1.0 %

COST stock opened at $961.55 on Friday. Costco Wholesale Co. has a 12-month low of $582.83 and a 12-month high of $976.30. 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 $426.03 billion, a price-to-earnings ratio of 58.03, a PEG ratio of 5.93 and a beta of 0.80. The company has a 50 day moving average of $906.32 and a two-hundred day moving average of $870.06.

Costco Wholesale (NASDAQ:COST) last released its earnings results 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 net margin of 2.90% and a return on equity of 31.05%. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the prior year, the firm earned $4.86 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein started coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price on the stock. StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. The Goldman Sachs Group increased their price objective 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. Roth Mkm increased their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Finally, Barclays increased their price objective on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $908.81.

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.