Valley Wealth Managers Inc. Boosts Position in Costco Wholesale Co. (NASDAQ:COST)

Valley Wealth Managers Inc. grew its stake in Costco Wholesale Co. (NASDAQ:COSTFree Report) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 958 shares of the retailer’s stock after buying an additional 22 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Costco Wholesale were worth $541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp increased its position in Costco Wholesale by 1.8% in the second quarter. State Street Corp now owns 19,108,655 shares of the retailer’s stock worth $10,287,718,000 after buying an additional 333,308 shares in the last quarter. Morgan Stanley boosted its stake in shares of Costco Wholesale by 18.0% in the fourth quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock worth $3,941,708,000 after acquiring an additional 1,315,174 shares during the period. Geode Capital Management LLC boosted its stake in shares of Costco Wholesale by 2.7% in the second quarter. Geode Capital Management LLC now owns 8,430,277 shares of the retailer’s stock worth $4,525,419,000 after acquiring an additional 219,892 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of Costco Wholesale by 118,320.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock worth $3,376,513,000 after acquiring an additional 7,390,278 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Costco Wholesale by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 5,851,678 shares of the retailer’s stock worth $3,150,426,000 after acquiring an additional 256,155 shares during the period. Hedge funds and other institutional investors own 66.31% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the subject of a number of recent analyst reports. DA Davidson upped their price objective on Costco Wholesale from $570.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, December 15th. UBS Group upped their price objective on Costco Wholesale from $640.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. Stifel Nicolaus increased their price target on Costco Wholesale from $615.00 to $675.00 and gave the company a “buy” rating in a research note on Friday, December 15th. JPMorgan Chase & Co. dropped their price target on Costco Wholesale from $620.00 to $605.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Finally, Evercore ISI increased their price target on Costco Wholesale from $640.00 to $650.00 and gave the company an “outperform” rating in a research note on Tuesday, December 12th. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $659.96.

View Our Latest Stock Report on COST

Insider Transactions at Costco Wholesale

In other news, EVP Caton Frates sold 740 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $683.50, for a total value of $505,790.00. Following the sale, the executive vice president now directly owns 6,721 shares in the company, valued at $4,593,803.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Costco Wholesale news, CFO Richard A. Galanti sold 1,112 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $680.21, for a total transaction of $756,393.52. Following the transaction, the chief financial officer now directly owns 24,300 shares in the company, valued at approximately $16,529,103. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Caton Frates sold 740 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $683.50, for a total value of $505,790.00. Following the transaction, the executive vice president now owns 6,721 shares in the company, valued at $4,593,803.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,194 shares of company stock worth $10,420,927. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Price Performance

NASDAQ:COST opened at $722.41 on Tuesday. The firm has a market capitalization of $320.55 billion, a price-to-earnings ratio of 49.24, a PEG ratio of 5.11 and a beta of 0.77. Costco Wholesale Co. has a 1 year low of $465.33 and a 1 year high of $728.17. The business has a 50 day simple moving average of $672.21 and a 200-day simple moving average of $601.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.09 and a quick ratio of 0.60.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.07. Costco Wholesale had a return on equity of 27.44% and a net margin of 2.65%. The firm had revenue of $57.80 billion for the quarter, compared to the consensus estimate of $57.79 billion. During the same period in the prior year, the business posted $3.10 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts forecast that Costco Wholesale Co. will post 15.66 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Friday, February 2nd will be issued a $1.02 dividend. The ex-dividend date is Thursday, February 1st. This represents a $4.08 annualized dividend and a dividend yield of 0.56%. Costco Wholesale’s payout ratio is 27.81%.

Costco Wholesale Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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