Dakota Wealth Management Trims Position in Costco Wholesale Co. (NASDAQ:COST)

Dakota Wealth Management lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,023 shares of the retailer’s stock after selling 1,621 shares during the quarter. Costco Wholesale comprises about 1.1% of Dakota Wealth Management’s holdings, making the stock its 11th largest position. Dakota Wealth Management’s holdings in Costco Wholesale were worth $49,665,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale in the 1st quarter valued at approximately $32,000. Financial Connections Group Inc. grew its holdings in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Bank & Trust Co purchased a new stake in shares of Costco Wholesale in the second quarter valued at about $48,000. Ruedi Wealth Management Inc. grew its position in shares of Costco Wholesale by 73.5% in 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 acquired a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity

In related news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the sale, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction that occurred 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 owns 10,210 shares in the company, valued at $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of the transaction, the executive vice president now owns 23,800 shares in the company, valued at approximately $20,560,344. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,636 shares of company stock worth $11,238,510. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on COST. Morgan Stanley upped their target price on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. 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 research note on Friday, September 27th. Wells Fargo & Company increased their price target on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Stifel Nicolaus raised their price objective on Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research note on Thursday, October 10th. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $894.57.

Costco Wholesale Trading Down 0.2 %

NASDAQ COST opened at $891.22 on Friday. The company’s fifty day simple moving average is $891.35 and its 200-day simple moving average is $837.33. The stock has a market cap of $394.87 billion, a P/E ratio of 53.79, a PEG ratio of 5.50 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. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating 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 analysts’ expectations of $79.91 billion. During the same period in the prior year, the company posted $4.86 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders 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 28.00%.

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.