Costco Wholesale Co. (NASDAQ:COST) is Northeast Investment Management’s 6th Largest Position

Northeast Investment Management trimmed its position in Costco Wholesale Co. (NASDAQ:COST) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,047 shares of the retailer’s stock after selling 629 shares during the quarter. Costco Wholesale comprises 3.9% of Northeast Investment Management’s holdings, making the stock its 6th largest position. Northeast Investment Management’s holdings in Costco Wholesale were worth $86,034,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of COST. Roman Butler Fullerton & Co. raised its position in Costco Wholesale by 3.2% during the third quarter. Roman Butler Fullerton & Co. now owns 2,930 shares of the retailer’s stock valued at $2,621,000 after acquiring an additional 91 shares in the last quarter. Kanawha Capital Management LLC raised its position in Costco Wholesale by 2.2% during the third quarter. Kanawha Capital Management LLC now owns 16,044 shares of the retailer’s stock valued at $14,223,000 after acquiring an additional 345 shares in the last quarter. Lansing Street Advisors raised its position in Costco Wholesale by 31.4% during the third quarter. Lansing Street Advisors now owns 339 shares of the retailer’s stock valued at $300,000 after acquiring an additional 81 shares in the last quarter. Fort L.P. raised its position in Costco Wholesale by 9.1% during the third quarter. Fort L.P. now owns 347 shares of the retailer’s stock valued at $308,000 after acquiring an additional 29 shares in the last quarter. Finally, TrueWealth Advisors LLC raised its position in Costco Wholesale by 33.3% during the third quarter. TrueWealth Advisors LLC now owns 452 shares of the retailer’s stock valued at $401,000 after acquiring an additional 113 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on COST shares. BMO Capital Markets reiterated an “outperform” rating and set a $980.00 price target (up from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Loop Capital boosted their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a research report on Tuesday, September 24th. Morgan Stanley boosted their price objective on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, DA Davidson restated a “neutral” rating and issued a $880.00 price objective on shares of Costco Wholesale in a research report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $905.30.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the sale, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Claudine Adamo sold 3,200 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock worth $11,238,510 in the last quarter. 0.18% of the stock is owned by company insiders.

Costco Wholesale Price Performance

COST stock opened at $877.31 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $388.71 billion, a PE ratio of 52.95, a P/E/G ratio of 5.38 and a beta of 0.80. Costco Wholesale Co. has a 12-month low of $552.01 and a 12-month high of $923.83. The business’s fifty day moving average price is $892.20 and its 200 day moving average price is $845.83.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.86 EPS. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.53%. Costco Wholesale’s dividend payout ratio (DPR) 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.