Raleigh Capital Management Inc. Has $360,000 Stake in Costco Wholesale Co. (NASDAQ:COST)

Raleigh Capital Management Inc. increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 9.4% during the third quarter, HoldingsChannel reports. The fund owned 406 shares of the retailer’s stock after buying an additional 35 shares during the period. Raleigh Capital Management Inc.’s holdings in Costco Wholesale were worth $360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sound Income Strategies LLC grew its position in Costco Wholesale by 7.2% in the first quarter. Sound Income Strategies LLC now owns 719 shares of the retailer’s stock valued at $527,000 after purchasing an additional 48 shares in the last quarter. Sovereign Financial Group Inc. grew its position in Costco Wholesale by 1.5% in the first quarter. Sovereign Financial Group Inc. now owns 1,762 shares of the retailer’s stock valued at $1,291,000 after purchasing an additional 26 shares in the last quarter. GoalVest Advisory LLC grew its position in Costco Wholesale by 15.2% in the first quarter. GoalVest Advisory LLC now owns 356 shares of the retailer’s stock valued at $261,000 after purchasing an additional 47 shares in the last quarter. Key Client Fiduciary Advisors LLC grew its position in Costco Wholesale by 19.1% in the first quarter. Key Client Fiduciary Advisors LLC now owns 755 shares of the retailer’s stock valued at $553,000 after purchasing an additional 121 shares in the last quarter. Finally, Aletheian Wealth Advisors LLC grew its position in Costco Wholesale by 36.4% in the first quarter. Aletheian Wealth Advisors LLC now owns 1,935 shares of the retailer’s stock valued at $1,418,000 after purchasing an additional 516 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on COST shares. Oppenheimer raised their target price on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective on the stock. in a research note on Tuesday, September 24th. BMO Capital Markets restated an “outperform” rating and set a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. The Goldman Sachs Group boosted their price objective 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. Finally, Morgan Stanley boosted their price objective on shares of 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 nineteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $894.57.

Costco Wholesale Stock Performance

NASDAQ COST opened at $893.49 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $395.88 billion, a P/E ratio of 53.92, a P/E/G ratio of 5.47 and a beta of 0.80. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The firm has a 50-day moving average price of $890.30 and a two-hundred day moving average price of $836.49.

Costco Wholesale (NASDAQ:COST) last issued its quarterly 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 net margin of 2.90% and a return on equity of 31.05%. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the prior year, the firm posted $4.86 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared 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 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 (DPR) is presently 28.00%.

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,224 shares of company stock valued at $9,974,973. Company insiders own 0.18% of the company’s stock.

Costco Wholesale 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.