Objective Capital Management LLC Acquires Shares of 347 Costco Wholesale Co. (NASDAQ:COST)

Objective Capital Management LLC bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 347 shares of the retailer’s stock, valued at approximately $307,000.

A number of other hedge funds have also bought and sold shares of the company. SilverOak Wealth Management LLC boosted its stake in Costco Wholesale by 23.4% in the third quarter. SilverOak Wealth Management LLC now owns 764 shares of the retailer’s stock valued at $677,000 after acquiring an additional 145 shares during the period. Tompkins Financial Corp raised its holdings in Costco Wholesale by 1.3% during the third quarter. Tompkins Financial Corp now owns 14,478 shares of the retailer’s stock worth $12,835,000 after purchasing an additional 190 shares in the last quarter. TCTC Holdings LLC raised its holdings in Costco Wholesale by 3.4% during the third quarter. TCTC Holdings LLC now owns 5,088 shares of the retailer’s stock worth $4,511,000 after purchasing an additional 168 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Costco Wholesale by 2.3% in the third quarter. Lindbrook Capital LLC now owns 3,629 shares of the retailer’s stock valued at $3,217,000 after buying an additional 82 shares in the last quarter. Finally, Klingman & Associates LLC increased its holdings in shares of Costco Wholesale by 181.7% in the third quarter. Klingman & Associates LLC now owns 3,158 shares of the retailer’s stock valued at $2,800,000 after buying an additional 2,037 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the transaction, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was 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 worth $11,238,510 over the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock traded up $29.87 on Friday, hitting $943.80. 3,277,090 shares of the company traded hands, compared to its average volume of 1,929,356. The business has a 50-day simple moving average of $893.49 and a 200 day simple moving average of $850.73. Costco Wholesale Co. has a 52 week low of $562.01 and a 52 week high of $962.00. The stock has a market capitalization of $418.17 billion, a P/E ratio of 56.96, a price-to-earnings-growth ratio of 5.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion for 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 revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.86 earnings per share. Research analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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 issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.49%. Costco Wholesale’s dividend payout ratio is presently 28.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Evercore ISI boosted their price target on shares of Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Sanford C. Bernstein began coverage on shares of Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Loop Capital increased their price objective on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $905.30.

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.