Western Pacific Wealth Management LP Purchases 57 Shares of Costco Wholesale Co. (NASDAQ:COST)

Western Pacific Wealth Management LP boosted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.9% in the third quarter, Holdings Channel.com reports. The firm owned 2,024 shares of the retailer’s stock after acquiring an additional 57 shares during the period. Costco Wholesale makes up about 1.2% of Western Pacific Wealth Management LP’s investment portfolio, making the stock its 13th largest position. Western Pacific Wealth Management LP’s holdings in Costco Wholesale were worth $1,794,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in COST. JB Capital LLC grew its holdings in shares of Costco Wholesale by 2.5% in the 3rd quarter. JB Capital LLC now owns 849 shares of the retailer’s stock valued at $754,000 after acquiring an additional 21 shares in the last quarter. Valley Brook Capital Group Inc. grew its holdings in shares of Costco Wholesale by 6.1% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 2,134 shares of the retailer’s stock valued at $1,892,000 after acquiring an additional 123 shares in the last quarter. Ascent Wealth Partners LLC grew its holdings in shares of Costco Wholesale by 4.1% in the 3rd quarter. Ascent Wealth Partners LLC now owns 559 shares of the retailer’s stock valued at $496,000 after acquiring an additional 22 shares in the last quarter. Jmac Enterprises LLC grew its holdings in shares of Costco Wholesale by 1.0% in the 3rd quarter. Jmac Enterprises LLC now owns 1,382 shares of the retailer’s stock valued at $1,225,000 after acquiring an additional 14 shares in the last quarter. Finally, Castle Wealth Management LLC grew its holdings in shares of Costco Wholesale by 12.2% in the 3rd quarter. Castle Wealth Management LLC now owns 1,179 shares of the retailer’s stock valued at $1,045,000 after acquiring an additional 128 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COST. BMO Capital Markets restated an “outperform” rating and issued a $980.00 price objective (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Melius Research assumed coverage on Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target for the company. The Goldman Sachs Group lifted their price target on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target for the company in a report on Thursday, August 8th. Finally, Evercore ISI lifted their price target on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $905.30.

Insider Activity at Costco Wholesale

In related news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction that occurred 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 transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction that occurred 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 transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,636 shares of company stock valued at $11,238,510 over the last three months. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Up 1.6 %

NASDAQ COST opened at $913.93 on Friday. 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 Co. has a 1-year low of $562.01 and a 1-year high of $923.83. The company has a 50 day moving average of $891.92 and a 200-day moving average of $848.69. The company has a market cap of $404.93 billion, a price-to-earnings ratio of 55.16, a PEG ratio of 5.45 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results 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 the consensus estimate of $79.91 billion. During the same period in the previous year, the business earned $4.86 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts expect 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. Investors of record on Friday, November 1st will be paid a $1.16 dividend. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is 28.00%.

About Costco Wholesale

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.