Investment Management Associates Inc. ADV Makes New $222,000 Investment in Costco Wholesale Co. (NASDAQ:COST)

Investment Management Associates Inc. ADV bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the third quarter, Holdings Channel reports. The fund bought 250 shares of the retailer’s stock, valued at approximately $222,000. Costco Wholesale comprises about 0.1% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 29th biggest position.

Other institutional investors also recently modified their holdings of the company. Financial Connections Group Inc. raised its holdings in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of Costco Wholesale in the second quarter valued at about $48,000. Ruedi Wealth Management Inc. raised its holdings in shares of Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale in the second quarter valued at about $50,000. Finally, Fairway Wealth LLC raised its holdings in shares of Costco Wholesale by 230.0% in the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after purchasing an additional 46 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Insider Activity

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the firm’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 value of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares in the company, valued at $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction dated 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 directly owns 22,900 shares in the company, valued at $20,015,745. The trade was 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 through the SEC website. Also, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,136 shares of company stock valued at $10,806,570. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on COST shares. Stifel Nicolaus increased their price target on shares of Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Telsey Advisory Group reiterated an “outperform” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research report on Monday, November 4th. Loop Capital increased their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. The Goldman Sachs Group increased their target price on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Melius Research assumed coverage on shares of Costco Wholesale in a research report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $905.30.

Costco Wholesale Price Performance

COST opened at $932.88 on Tuesday. The stock has a market cap of $413.33 billion, a price-to-earnings ratio of 56.30, a PEG ratio of 5.81 and a beta of 0.80. Costco Wholesale Co. has a 1 year low of $572.24 and a 1 year high of $962.00. 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 stock has a fifty day moving average price of $893.49 and a 200 day moving average price of $852.53.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.86 earnings per share. Analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a dividend of $1.16 per share. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. Costco Wholesale’s dividend payout ratio is 28.00%.

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.