Baltimore Washington Financial Advisors Inc. Purchases 769 Shares of Costco Wholesale Co. (NASDAQ:COST)

24 Nov 2024, 07:10 by Renee Jackson · The Cerbat Gem

Baltimore Washington Financial Advisors Inc. grew its position in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,973 shares of the retailer’s stock after acquiring an additional 769 shares during the quarter. Costco Wholesale accounts for 1.9% of Baltimore Washington Financial Advisors Inc.’s portfolio, making the stock its 17th biggest holding. Baltimore Washington Financial Advisors Inc.’s holdings in Costco Wholesale were worth $35,437,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in COST. Financial Connections Group Inc. boosted its holdings in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Bank & Trust Co purchased a new position in shares of Costco Wholesale in the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the period. Summit Securities Group LLC purchased a new position in shares of Costco Wholesale in the 2nd quarter worth approximately $50,000. Finally, Fairway Wealth LLC boosted its holdings in shares of Costco Wholesale by 230.0% in the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after purchasing an additional 46 shares during the period. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 0.9 %

COST opened at $964.01 on Friday. The firm has a market cap of $427.12 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 5.90 and a beta of 0.80. 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 stock has a fifty day moving average price of $901.18 and a 200-day moving average price of $865.47.

Costco Wholesale (NASDAQ:COST – Get Free Report) 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. The firm had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $4.86 EPS. As a group, equities research analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COST. Tigress Financial reiterated a “buy” rating and issued a $1,065.00 target price on shares of Costco Wholesale in a report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Wells Fargo & Company boosted their price objective on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. DA Davidson restated a “neutral” rating and set a $880.00 price objective on shares of Costco Wholesale in a report on Thursday, October 10th. Finally, Roth Mkm boosted their price objective on Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $908.81.

Get Our Latest Analysis on COST

Insider Activity at Costco Wholesale

In related 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 transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 27.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. This represents a 30.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock valued at $9,826,115 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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.