Narwhal Capital Management Sells 158 Shares of Costco Wholesale Co. (NASDAQ:COST)

Narwhal Capital Management decreased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,754 shares of the retailer’s stock after selling 158 shares during the period. Narwhal Capital Management’s holdings in Costco Wholesale were worth $7,761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale in the 1st quarter worth about $32,000. Financial Connections Group Inc. grew its holdings in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Bank & Trust Co bought a new position in shares of Costco Wholesale during the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. lifted its holdings in shares of 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. Finally, Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Redburn Atlantic cut Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. Robert W. Baird upped their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Loop Capital increased their price objective on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays lifted their target price on shares of Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a research report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $894.57.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the firm’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 transaction, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the sale, the executive vice president now directly owns 8,630 shares in the company, valued at $7,671,983.70. 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 11,220 shares of company stock valued at $9,971,643 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.6 %

Costco Wholesale stock opened at $899.17 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The firm’s 50 day moving average price is $891.03 and its 200-day moving average price is $836.93. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The stock has a market cap of $398.63 billion, a P/E ratio of 55.71, a PEG ratio of 5.47 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released 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. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business 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 earned $4.86 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, equities 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. Shareholders of record on Friday, November 1st will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is 28.75%.

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.