MetLife Investment Management LLC Sells 3,388 Shares of Costco Wholesale Co. (NASDAQ:COST)

27 Nov 2024, 11:28 by Renee Jackson · The Cerbat Gem

MetLife Investment Management LLC decreased its stake in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 2.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 135,477 shares of the retailer’s stock after selling 3,388 shares during the period. Costco Wholesale makes up 0.7% of MetLife Investment Management LLC’s investment portfolio, making the stock its 18th biggest position. MetLife Investment Management LLC’s holdings in Costco Wholesale were worth $120,103,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on COST. Loop Capital upped their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Melius Research initiated coverage on shares of Costco Wholesale in a research report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective on the stock. Stifel Nicolaus lifted their price target on shares of Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen raised their price objective on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research note on Monday, November 4th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $908.81.

View Our Latest Research Report on Costco Wholesale

Costco Wholesale Trading Up 0.3 %

Costco Wholesale stock opened at $974.20 on Wednesday. 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 Co. has a 12-month low of $582.83 and a 12-month high of $976.30. The firm has a market capitalization of $431.64 billion, a price-to-earnings ratio of 58.63, a P/E/G ratio of 5.93 and a beta of 0.80. The firm has a 50 day moving average of $903.72 and a 200 day moving average of $868.77.

Costco Wholesale (NASDAQ:COST – Get Free Report) last issued its earnings results 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 firm had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same quarter in the prior year, the business earned $4.86 earnings per share. Costco Wholesale’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, research analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.48%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares in the company, valued at $9,155,409.10. This trade represents a 16.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. This represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,016 shares of company stock worth $9,826,115 over the last ninety days. Company insiders own 0.18% of the company’s stock.

About Costco Wholesale

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