Acorn Wealth Advisors LLC Raises Position in Costco Wholesale Co. (NASDAQ:COST)

Acorn Wealth Advisors LLC boosted its position in Costco Wholesale Co. (NASDAQ:COST) by 14.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 496 shares of the retailer’s stock after purchasing an additional 62 shares during the period. Acorn Wealth Advisors LLC’s holdings in Costco Wholesale were worth $440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fermata Advisors LLC boosted its position in shares of Costco Wholesale by 0.6% in the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after purchasing an additional 11 shares in the last quarter. Oak Asset Management LLC boosted its holdings in Costco Wholesale by 0.3% in the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after acquiring an additional 12 shares in the last quarter. Peddock Capital Advisors LLC grew its stake in shares of Costco Wholesale by 0.7% during the second quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock worth $1,518,000 after acquiring an additional 12 shares during the last quarter. Perkins Coie Trust Co increased its holdings in shares of Costco Wholesale by 0.3% during the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock valued at $4,144,000 after acquiring an additional 12 shares in the last quarter. Finally, Firethorn Wealth Partners LLC increased its holdings in shares of Costco Wholesale by 3.5% during the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after acquiring an additional 12 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on COST shares. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Wells Fargo & Company boosted their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Loop Capital raised their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley raised their price objective on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $908.81.

Costco Wholesale Price Performance

COST stock traded down $1.26 during trading on Monday, hitting $962.75. The stock had a trading volume of 166,969 shares, compared to its average volume of 1,920,942. Costco Wholesale Co. has a twelve month low of $582.83 and a twelve month high of $976.30. The company’s 50-day moving average price is $901.18 and its two-hundred day moving average price is $866.19. 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 market capitalization of $426.57 billion, a P/E ratio of 58.54, a PEG ratio of 5.95 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.86 earnings per share. As a group, research analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $1.16 dividend. The ex-dividend date 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 (DPR) is presently 28.00%.

Insider Activity at Costco Wholesale

In other Costco Wholesale 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 value of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at $9,091,512.30. This trade represents a 30.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Company 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.