Spirit of America Management Corp NY Acquires 50 Shares of Costco Wholesale Co. (NASDAQ:COST)

Spirit of America Management Corp NY grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,831 shares of the retailer’s stock after purchasing an additional 50 shares during the quarter. Costco Wholesale comprises approximately 1.2% of Spirit of America Management Corp NY’s holdings, making the stock its 23rd largest holding. Spirit of America Management Corp NY’s holdings in Costco Wholesale were worth $6,056,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COST. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in Costco Wholesale by 62.8% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after purchasing an additional 932 shares during the period. J.W. Cole Advisors Inc. increased its position in shares of Costco Wholesale by 52.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after buying an additional 2,620 shares in the last quarter. Patton Fund Management Inc. acquired a new stake in Costco Wholesale during the 3rd quarter worth $6,424,000. WestHill Financial Advisors Inc. lifted its holdings in Costco Wholesale by 328.4% during the third quarter. WestHill Financial Advisors Inc. now owns 1,435 shares of the retailer’s stock worth $1,272,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its stake in Costco Wholesale by 22.8% in the second quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock valued at $3,003,000 after acquiring an additional 656 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of the sale, the executive vice president now directly owns 23,800 shares in the company, valued at $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the transaction, the executive vice president now owns 23,800 shares in the company, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,636 shares of company stock valued at $11,238,510. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Down 0.2 %

Shares of NASDAQ:COST opened at $891.22 on Friday. The company has a 50-day simple moving average of $891.35 and a 200 day simple moving average of $837.33. The company has a market capitalization of $394.87 billion, a P/E ratio of 53.79, a price-to-earnings-growth ratio of 5.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83.

Costco Wholesale (NASDAQ:COST) last posted its earnings results 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 return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the firm earned $4.86 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio is presently 28.00%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on COST shares. Melius Research assumed coverage on Costco Wholesale in a research report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a report on Tuesday. They set an “outperform” rating and a $1,016.00 target price on the stock. Truist Financial cut shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a report on Tuesday, September 24th. Tigress Financial restated a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a report on Thursday, October 17th. Finally, The Goldman Sachs Group upped their target price on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $894.57.

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.