Lake Street Private Wealth LLC Trims Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Lake Street Private Wealth LLC lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 25.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,447 shares of the retailer’s stock after selling 2,539 shares during the period. Costco Wholesale makes up about 1.1% of Lake Street Private Wealth LLC’s investment portfolio, making the stock its 19th largest position. Lake Street Private Wealth LLC’s holdings in Costco Wholesale were worth $6,602,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in COST. Fermata Advisors LLC lifted its position in shares of Costco Wholesale by 0.6% in the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after buying an additional 11 shares in the last quarter. Oak Asset Management LLC increased its stake in Costco Wholesale by 0.3% in the 2nd 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 during the last quarter. Peddock Capital Advisors LLC raised its holdings in shares of Costco Wholesale by 0.7% during the 2nd 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 in the last quarter. Perkins Coie Trust Co boosted its position in shares of Costco Wholesale by 0.3% during the 3rd 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 during the last quarter. Finally, Firethorn Wealth Partners LLC grew its holdings in shares of Costco Wholesale by 3.5% in the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the topic of a number of recent research reports. Barclays upped their price target 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. Melius Research initiated coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price target for the company. TD Cowen boosted their price objective on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Sanford C. Bernstein initiated coverage on Costco Wholesale in a research note on Tuesday. They issued an “outperform” rating and a $1,016.00 price objective for the company. Finally, Redburn Atlantic cut Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $894.57.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $899.17 on Thursday. The firm has a 50 day moving average of $891.03 and a 200 day moving average of $836.93. 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 $398.63 billion, a price-to-earnings ratio of 55.71, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83.

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

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is currently 28.75%.

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 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 directly owns 22,900 shares in the company, valued at $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at approximately $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. Insiders sold a total of 11,220 shares of company stock worth $9,971,643 in the last 90 days. 0.18% of the stock is owned by corporate 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.