Naviter Wealth LLC Decreases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Naviter Wealth LLC lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,023 shares of the retailer’s stock after selling 209 shares during the period. Naviter Wealth LLC’s holdings in Costco Wholesale were worth $2,680,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of COST. Redmont Wealth Advisors LLC bought a new stake in shares of Costco Wholesale during the 1st quarter valued at $32,000. Financial Connections Group Inc. raised its stake in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares during the last quarter. Bank & Trust Co bought a new stake in shares of Costco Wholesale in the second quarter worth about $48,000. Ruedi Wealth Management Inc. raised its position in Costco Wholesale by 73.5% during the 2nd 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. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 0.3 %

Shares of NASDAQ COST traded up $2.76 during mid-day trading on Thursday, reaching $890.14. The company had a trading volume of 118,312 shares, compared to its average volume of 1,940,625. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. The business’s 50-day moving average is $887.65 and its 200-day moving average is $830.66. The stock has a market cap of $394.63 billion, a price-to-earnings ratio of 54.98, a price-to-earnings-growth ratio of 5.53 and a beta of 0.80. 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 issued its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS 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 business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same period last year, the company posted $4.86 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that Costco Wholesale Co. will post 17.73 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale 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 transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at $9,091,512.30. This trade 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. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,224 shares of company stock valued at $9,974,973 over the last three months. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on COST shares. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their target price for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. Melius Research started coverage on Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 target price on the stock. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target on the stock. in a research report on Tuesday, September 24th. TD Cowen upped their price objective on shares of Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, The Goldman Sachs Group raised their price objective on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $886.74.

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.