Sitrin Capital Management LLC Has $8.52 Million Position in Costco Wholesale Co. (NASDAQ:COST)

by · The Cerbat Gem

Sitrin Capital Management LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 0.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,609 shares of the retailer’s stock after purchasing an additional 20 shares during the period. Costco Wholesale accounts for approximately 4.3% of Sitrin Capital Management LLC’s portfolio, making the stock its 3rd largest holding. Sitrin Capital Management LLC’s holdings in Costco Wholesale were worth $8,519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of COST. Resurgent Financial Advisors LLC lifted its position in shares of Costco Wholesale by 1.0% during the first quarter. Resurgent Financial Advisors LLC now owns 1,371 shares of the retailer’s stock worth $1,004,000 after acquiring an additional 14 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Costco Wholesale by 22.3% during the first quarter. China Universal Asset Management Co. Ltd. now owns 7,719 shares of the retailer’s stock worth $5,655,000 after acquiring an additional 1,408 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in shares of Costco Wholesale by 2.5% during the first quarter. Resonant Capital Advisors LLC now owns 5,494 shares of the retailer’s stock worth $4,025,000 after acquiring an additional 135 shares in the last quarter. Schear Investment Advisers LLC lifted its position in shares of Costco Wholesale by 2.9% during the first quarter. Schear Investment Advisers LLC now owns 3,890 shares of the retailer’s stock worth $2,850,000 after acquiring an additional 110 shares in the last quarter. Finally, Pullen Investment Management LLC purchased a new stake in shares of Costco Wholesale in the first quarter worth $1,439,000. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COST. Wells Fargo & Company increased their price objective on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Redburn Atlantic cut Costco Wholesale from a “buy” rating to a “neutral” rating and raised their target price for the stock from $860.00 to $890.00 in a research note on Tuesday, September 10th. DA Davidson reissued a “neutral” rating and issued a $880.00 target price on shares of Costco Wholesale in a research note on Thursday, October 10th. Finally, Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price on the stock. in a research note on Tuesday, September 24th. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average target price of $894.57.

Check Out Our Latest Stock Analysis on Costco Wholesale

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $877.31 on Friday. Costco Wholesale Co. has a twelve month low of $552.01 and a twelve month high of $923.83. The firm has a market cap of $388.71 billion, a P/E ratio of 52.95, a PEG ratio of 5.41 and a beta of 0.80. The company has a 50 day moving average of $892.20 and a 200 day moving average of $844.03. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST – Get Free Report) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share 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 company had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the business earned $4.86 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Insiders Place Their Bets

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

Costco Wholesale Company Profile

(Free Report)

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.

Further Reading

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