BKM Wealth Management LLC Raises Holdings in Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

BKM Wealth Management LLC increased its position in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 17.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,342 shares of the retailer’s stock after buying an additional 355 shares during the quarter. BKM Wealth Management LLC’s holdings in Costco Wholesale were worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Loop Capital raised their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and raised their target price for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. The Goldman Sachs Group raised their target price on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Wells Fargo & Company raised their target price on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Finally, Barclays lifted their price target on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $894.57.

Check Out Our Latest Stock Analysis on COST

Insiders Place Their Bets

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction dated 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 directly owns 10,210 shares in the company, valued at $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the transaction, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale 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 approximately $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,636 shares of company stock valued at $11,238,510 over the last three months. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Trading Down 0.2 %

NASDAQ COST opened at $891.22 on Friday. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $394.87 billion, a PE ratio of 53.79, a price-to-earnings-growth ratio of 5.50 and a beta of 0.80. The firm’s fifty day simple moving average is $891.76 and its 200-day simple moving average is $839.41.

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

Costco Wholesale Announces Dividend

The firm 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 dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

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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