Valley National Advisers Inc. Grows Position in Costco Wholesale Co. (NASDAQ:COST)

Valley National Advisers Inc. lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 312.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,271 shares of the retailer’s stock after purchasing an additional 1,721 shares during the period. Valley National Advisers Inc.’s holdings in Costco Wholesale were worth $2,012,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fermata Advisors LLC boosted its position in Costco Wholesale by 0.6% in the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after purchasing an additional 11 shares during the last quarter. Oak Asset Management LLC lifted its stake in shares of Costco Wholesale by 0.3% in the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after purchasing an additional 12 shares during the period. Peddock Capital Advisors LLC lifted its stake in shares of Costco Wholesale by 0.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock worth $1,518,000 after purchasing an additional 12 shares during the period. Perkins Coie Trust Co boosted its holdings in shares of Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after buying an additional 12 shares during the last quarter. Finally, Firethorn Wealth Partners LLC grew its position in Costco Wholesale by 3.5% during the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after buying an additional 12 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COST has been the topic of several recent research reports. Telsey Advisory Group reiterated an “outperform” rating and set a $1,000.00 price target on shares of Costco Wholesale in a research note on Thursday, October 10th. Sanford C. Bernstein began coverage on Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 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 for the company. in a report on Tuesday, September 24th. Barclays raised their price objective on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Finally, Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $894.57.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the transaction, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. 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 worth $11,238,510. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $891.22 on Monday. The firm has a fifty day simple moving average of $891.76 and a two-hundred day simple moving average of $840.23. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $395.11 billion, a P/E ratio of 55.22, 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.

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

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors 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 0.52%. Costco Wholesale’s payout ratio is presently 28.75%.

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.