Sunburst Financial Group LLC Increases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Sunburst Financial Group LLC lifted its position in Costco Wholesale Co. (NASDAQ:COSTFree Report) by 14.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 293 shares of the retailer’s stock after purchasing an additional 37 shares during the quarter. Sunburst Financial Group LLC’s holdings in Costco Wholesale were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of COST. Financial Connections Group Inc. boosted its stake in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares during the period. Bank & Trust Co purchased a new position in Costco Wholesale during the second quarter worth about $48,000. Ruedi Wealth Management Inc. boosted its stake in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after buying an additional 25 shares during the period. Summit Securities Group LLC purchased a new position in Costco Wholesale during the second quarter worth about $50,000. Finally, Fairway Wealth LLC boosted its stake in Costco Wholesale by 230.0% during the second 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. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity

In other news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the transaction, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at $20,560,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the transaction, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at $20,560,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale 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 directly owns 27,400 shares in the company, valued at $24,514,232. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,636 shares of company stock valued at $11,238,510 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Down 0.9 %

COST stock opened at $879.09 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a twelve month low of $549.06 and a twelve month high of $923.83. The company’s 50 day moving average is $892.30 and its two-hundred day moving average is $842.70. The stock has a market cap of $389.50 billion, a P/E ratio of 53.05, a PEG ratio of 5.48 and a beta of 0.80.

Costco Wholesale (NASDAQ:COSTGet Free Report) last released its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share 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 for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter last year, the company earned $4.86 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Research analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale’s payout ratio is 28.00%.

Wall Street Analyst Weigh In

COST has been the subject of several research analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research note on Thursday, October 10th. Sanford C. Bernstein began coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective for the company. Evercore ISI raised their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and raised their price objective for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. Finally, Barclays raised their price objective on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $894.57.

Read Our Latest Research Report on Costco Wholesale

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.

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

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