Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Accent Capital Management LLC

Accent Capital Management LLC cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 9.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,220 shares of the retailer’s stock after selling 633 shares during the period. Costco Wholesale accounts for approximately 3.2% of Accent Capital Management LLC’s holdings, making the stock its 8th largest holding. Accent Capital Management LLC’s holdings in Costco Wholesale were worth $5,514,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Financial Connections Group Inc. increased its stake 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 acquiring an additional 39 shares during the period. Bank & Trust Co bought a new stake in Costco Wholesale during the second quarter worth approximately $48,000. Ruedi Wealth Management Inc. increased 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 buying an additional 25 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Costco Wholesale during the 2nd quarter valued at $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Costco Wholesale during the 3rd quarter worth $58,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $907.07 on Friday. 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 1 year low of $572.24 and a 1 year high of $962.00. The business has a fifty day simple moving average of $897.62 and a 200 day simple moving average of $858.66. The firm has a market cap of $401.90 billion, a price-to-earnings ratio of 54.74, a P/E/G ratio of 5.60 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data 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 return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same period last year, the company earned $4.86 earnings per share. Costco Wholesale’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $1.16 per share. The ex-dividend date was Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a research note on Tuesday, September 24th. Loop Capital raised their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. BMO Capital Markets reissued an “outperform” rating and set a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a research note on Friday, September 27th. Telsey Advisory Group reissued an “outperform” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a research note on Monday, November 4th. Finally, Morgan Stanley raised their price objective on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $905.30.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. The trade was a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the transaction, the executive vice president now owns 10,210 shares in the company, valued at $9,155,409.10. The trade was a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,016 shares of company stock worth $9,826,115 over the last three months. Corporate insiders own 0.18% of the company’s stock.

About Costco Wholesale

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.