Financial Management Network Inc. Acquires New Position in Costco Wholesale Co. (NASDAQ:COST)

by · The Cerbat Gem

Financial Management Network Inc. acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,052 shares of the retailer’s stock, valued at approximately $4,461,000. Costco Wholesale accounts for about 0.9% of Financial Management Network Inc.’s holdings, making the stock its 28th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its stake in Costco Wholesale by 113,947.9% during the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock worth $6,534,464,000 after purchasing an additional 7,364,453 shares during the period. Wulff Hansen & CO. increased its position in shares of Costco Wholesale by 99,208.6% in the second quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock worth $1,253,508,000 after acquiring an additional 1,473,248 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Costco Wholesale by 287.3% in the second quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after acquiring an additional 620,341 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Costco Wholesale by 51,747.5% in the second quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after acquiring an additional 618,383 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Costco Wholesale by 1.2% in the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock worth $29,916,118,000 after acquiring an additional 473,702 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In related news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value of $2,844,768.00. Following the sale, the executive vice president now directly owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the sale, the executive vice president now owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were 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 disclosure for this sale can be found here. In the last three months, 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 Trading Down 0.2 %

Costco Wholesale stock opened at $891.22 on Friday. 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 firm has a 50-day moving average price of $891.35 and a two-hundred day moving average price of $837.33. The firm has a market capitalization of $394.87 billion, a price-to-earnings ratio of 53.79, 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 – Get Free Report) last issued its quarterly 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. The company had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.86 EPS. Sell-side analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Analyst Ratings Changes

Several research firms have recently issued reports on COST. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Roth Mkm increased their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Barclays increased their price objective on shares of Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Oppenheimer raised their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $894.57.

Get Our Latest Research Report on Costco Wholesale

Costco Wholesale 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.

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