Drive Wealth Management LLC Acquires 37 Shares of Costco Wholesale Co. (NASDAQ:COST)

18 Nov 2024, 16:12 by Mitch Edgeman · The Markets Daily

Drive Wealth Management LLC lifted its stake in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,271 shares of the retailer’s stock after purchasing an additional 37 shares during the period. Drive Wealth Management LLC’s holdings in Costco Wholesale were worth $1,127,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. raised its holdings in Costco Wholesale by 22.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,719 shares of the retailer’s stock worth $5,655,000 after purchasing an additional 1,408 shares during the period. Hillsdale Investment Management Inc. increased its position in shares of Costco Wholesale by 20.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 498 shares of the retailer’s stock valued at $365,000 after buying an additional 84 shares in the last quarter. Bahl & Gaynor Inc. increased its position in shares of Costco Wholesale by 1.2% in the 1st quarter. Bahl & Gaynor Inc. now owns 7,298 shares of the retailer’s stock valued at $5,347,000 after buying an additional 84 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in Costco Wholesale by 120.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 7,515 shares of the retailer’s stock worth $5,506,000 after buying an additional 4,106 shares during the period. Finally, Capitolis Liquid Global Markets LLC lifted its holdings in Costco Wholesale by 500.0% during the first quarter. Capitolis Liquid Global Markets LLC now owns 60,000 shares of the retailer’s stock worth $43,958,000 after acquiring an additional 50,000 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 1.8 %

COST stock opened at $907.07 on Monday. The business’s 50 day simple moving average is $897.62 and its 200 day simple moving average is $859.62. Costco Wholesale Co. has a 1-year low of $572.24 and a 1-year high of $962.00. The firm has a market capitalization of $401.90 billion, a PE ratio of 54.74, a PEG ratio of 5.60 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 (NASDAQ:COST – Get Free Report) last issued its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.10. The company had revenue of $79.70 billion for 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 company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.86 earnings per share. As a group, research analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s dividend payout ratio is presently 28.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on COST shares. Roth Mkm raised their price target on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Morgan Stanley raised their target price on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Melius Research initiated coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price target for the company. Evercore ISI raised their price objective on shares of Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company upped their target price on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $905.30.

Get Our Latest Stock Report on COST

Insider Activity

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at $9,155,409.10. This represents a 16.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is owned by insiders.

Costco Wholesale Company Profile

(Free Report)