Ferguson Wellman Capital Management Inc. Reduces Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Ferguson Wellman Capital Management Inc. trimmed its stake in Costco Wholesale Co. (NASDAQ:COST) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,516 shares of the retailer’s stock after selling 1,965 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Costco Wholesale were worth $19,961,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new position in Costco Wholesale in the 1st quarter worth approximately $32,000. Financial Connections Group Inc. lifted its holdings in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in Costco Wholesale in the 2nd quarter worth about $48,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after acquiring an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the second quarter worth approximately $50,000. 68.48% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the sale, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Russell D. Miller sold 4,400 shares of the firm’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 completion of the sale, the executive vice president now owns 10,202 shares in the company, valued at $9,091,512.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the transaction, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,224 shares of company stock valued at $9,974,973. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Trading Up 0.5 %

Shares of NASDAQ:COST opened at $889.56 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 debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The firm has a market capitalization of $394.37 billion, a P/E ratio of 55.12, a P/E/G ratio of 5.48 and a beta of 0.80. The business’s 50-day moving average is $889.26 and its 200 day moving average is $833.05.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.86 EPS. On average, research analysts predict that Costco Wholesale Co. will post 17.74 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Bank of America raised their price objective on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Robert W. Baird increased their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. DA Davidson reaffirmed a “neutral” rating and issued a $880.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 10th. Finally, Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a research report on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $890.07.

Costco Wholesale Company Profile

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.