Costco Wholesale Co. (NASDAQ:COST) Stock Holdings Reduced by Lyell Wealth Management LP

Lyell Wealth Management LP reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,032 shares of the retailer’s stock after selling 72 shares during the period. Costco Wholesale accounts for about 2.2% of Lyell Wealth Management LP’s holdings, making the stock its 7th biggest position. Lyell Wealth Management LP’s holdings in Costco Wholesale were worth $23,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new position in Costco Wholesale in the first quarter valued at approximately $32,000. Financial Connections Group Inc. increased its holdings in shares of Costco Wholesale by 557.1% in the 2nd 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 period. Bank & Trust Co purchased a new stake in Costco Wholesale in the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. raised its position in Costco Wholesale by 73.5% in 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 purchased a new stake in Costco Wholesale in the 2nd quarter valued at $50,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the 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 transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares in the company, valued at approximately $9,155,409.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,636 shares of company stock valued at $11,238,510. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COST has been the subject of several research reports. Tigress Financial reiterated a “buy” rating and issued a $1,065.00 price target on shares of Costco Wholesale in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their price target on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Barclays boosted their price target on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Wells Fargo & Company boosted their price target on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $980.00 price target (up previously from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $894.57.

Costco Wholesale Stock Performance

COST opened at $891.22 on Friday. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. 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 stock’s 50 day simple moving average is $891.76 and its 200 day simple moving average is $839.41. The stock has a market cap of $394.87 billion, a P/E ratio of 53.79, a P/E/G ratio of 5.50 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $79.91 billion. During the same quarter in the prior year, the company earned $4.86 EPS. Costco Wholesale’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced 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. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is currently 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.