Malaga Cove Capital LLC Lowers Position in Costco Wholesale Co. (NASDAQ:COST)

Malaga Cove Capital LLC trimmed its position in Costco Wholesale Co. (NASDAQ:COST) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,531 shares of the retailer’s stock after selling 29 shares during the quarter. Costco Wholesale comprises approximately 1.3% of Malaga Cove Capital LLC’s holdings, making the stock its 24th biggest position. Malaga Cove Capital LLC’s holdings in Costco Wholesale were worth $3,130,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in Costco Wholesale by 62.8% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after purchasing an additional 932 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its position in Costco Wholesale by 66.9% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock valued at $2,738,000 after purchasing an additional 1,238 shares during the period. J.W. Cole Advisors Inc. lifted its stake in shares of Costco Wholesale by 52.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after purchasing an additional 2,620 shares during the last quarter. Patton Fund Management Inc. bought a new position in shares of Costco Wholesale during the 3rd quarter valued at approximately $6,424,000. Finally, WestHill Financial Advisors Inc. raised its holdings in Costco Wholesale by 328.4% during the 3rd quarter. WestHill Financial Advisors Inc. now owns 1,435 shares of the retailer’s stock valued at $1,272,000 after buying an additional 1,100 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard A. Galanti sold 500 shares of the business’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 completion of the sale, the executive vice president now owns 23,800 shares of the company’s stock, valued at $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock valued at $11,238,510 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several analyst reports. Loop Capital raised their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Wells Fargo & Company raised their price objective 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. Morgan Stanley upped their target price on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Barclays raised 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. Finally, Sanford C. Bernstein started coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $905.30.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $899.25 on Thursday. 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 twelve month low of $562.01 and a twelve month high of $923.83. The company’s 50 day moving average is $891.92 and its 200 day moving average is $848.69. The company has a market cap of $398.43 billion, a PE ratio of 54.27, a price-to-earnings-growth ratio of 5.45 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter last year, the company posted $4.86 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. Costco Wholesale’s payout ratio is 28.00%.

Costco Wholesale 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.