Snider Financial Group Sells 46 Shares of Costco Wholesale Co. (NASDAQ:COST)

Snider Financial Group decreased its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,786 shares of the retailer’s stock after selling 46 shares during the period. Costco Wholesale accounts for about 1.6% of Snider Financial Group’s holdings, making the stock its 18th biggest position. Snider Financial Group’s holdings in Costco Wholesale were worth $4,243,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financial Connections Group Inc. increased its holdings in Costco Wholesale by 557.1% in 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 purchased a new position in shares of Costco Wholesale in the second quarter worth about $48,000. Ruedi Wealth Management Inc. increased its stake in shares of Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the second quarter valued at approximately $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at approximately $58,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Down 0.3 %

Shares of COST opened at $930.90 on Thursday. Costco Wholesale Co. has a 1 year low of $572.24 and a 1 year high of $962.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The stock has a 50 day simple moving average of $896.25 and a two-hundred day simple moving average of $855.99. The firm has a market cap of $412.45 billion, a P/E ratio of 56.35, a P/E/G ratio of 5.75 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $79.91 billion. During the same quarter last year, the firm earned $4.86 EPS. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio is presently 28.00%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a research note on Tuesday, September 24th. DA Davidson reiterated a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. Wells Fargo & Company increased their price objective on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a report on Thursday, October 17th. Finally, Morgan Stanley upped their price target on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $905.30.

Insider Buying and Selling

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the business’s 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 completion of the sale, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 11,016 shares of company stock worth $9,826,115 in 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.