Baron Wealth Management LLC Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)

Baron Wealth Management LLC acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 297 shares of the retailer’s stock, valued at approximately $263,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Connections Group Inc. grew its position in Costco Wholesale by 557.1% during the 2nd 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 bought a new position in Costco Wholesale during the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. grew its position in 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 acquiring an additional 25 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Costco Wholesale in the 2nd quarter worth approximately $50,000. Finally, Fairway Wealth LLC lifted its holdings in Costco Wholesale by 230.0% in the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after buying an additional 46 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Price Performance

NASDAQ:COST opened at $919.51 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $407.41 billion, a P/E ratio of 55.49, a P/E/G ratio of 5.60 and a beta of 0.80. Costco Wholesale Co. has a 12 month low of $577.34 and a 12 month high of $962.00. The business’s 50-day moving average is $898.08 and its 200 day moving average is $860.94.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same period in the previous year, the firm posted $4.86 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.50%. Costco Wholesale’s payout ratio is currently 28.00%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Tigress Financial reiterated a “buy” rating and issued a $1,065.00 price objective on shares of Costco Wholesale in a report on Thursday, October 17th. Melius Research assumed coverage on Costco Wholesale in a research note on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price for the company. BMO Capital Markets raised their target price on Costco Wholesale from $980.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Monday. Sanford C. Bernstein assumed coverage on Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price for the company. Finally, Oppenheimer raised their target price on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $908.81.

Insiders Place Their Bets

In related news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction on 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 owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock valued at $9,826,115 over the last ninety days. 0.18% of the stock is owned by insiders.

About Costco Wholesale

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.