Clarity Financial LLC increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 27.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,877 shares of the retailer’s stock after acquiring an additional 7,812 shares during the quarter. Costco Wholesale comprises about 3.7% of Clarity Financial LLC’s portfolio, making the stock its 6th largest holding. Clarity Financial LLC’s holdings in Costco Wholesale were worth $31,805,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Connections Group Inc. lifted its position in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co bought a new position in Costco Wholesale during the second quarter valued at $48,000. Ruedi Wealth Management Inc. lifted its position in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares during the last quarter. Summit Securities Group LLC bought a new position in Costco Wholesale during the second quarter valued at $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in Costco Wholesale during the third quarter valued at $58,000. Institutional investors own 68.48% of the company’s stock.
Insider Activity
In other news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the transaction, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at $9,155,409.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the sale, the executive vice president now directly owns 10,210 shares in the company, valued at approximately $9,155,409.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,636 shares of company stock valued at $11,238,510 in the last three months. 0.18% of the stock is currently owned by corporate insiders.
Costco Wholesale Stock Performance
Costco Wholesale (NASDAQ:COST – Get Free Report) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.86 EPS. As a group, analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.
Costco Wholesale Dividend Announcement
The company 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 dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.
Analyst Upgrades and Downgrades
Several equities analysts have commented on COST shares. Melius Research started coverage on shares of Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective for the company. Loop Capital increased their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Oppenheimer increased their target price on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research note on Monday. 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, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $905.30.
Read Our Latest Report on Costco Wholesale
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.
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