RKL Wealth Management LLC Has $14.75 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

RKL Wealth Management LLC reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,642 shares of the retailer’s stock after selling 54 shares during the period. Costco Wholesale accounts for 1.3% of RKL Wealth Management LLC’s investment portfolio, making the stock its 18th biggest position. RKL Wealth Management LLC’s holdings in Costco Wholesale were worth $14,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in Costco Wholesale by 62.8% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after acquiring an additional 932 shares in the last quarter. Hudson Value Partners LLC boosted its holdings in shares of Costco Wholesale by 7.6% during the third quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after purchasing an additional 568 shares during the period. Cantor Fitzgerald Investment Advisors L.P. grew 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 in the last quarter. J.W. Cole Advisors Inc. increased its stake in 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 buying an additional 2,620 shares during the period. Finally, Patton Fund Management Inc. purchased a new stake in Costco Wholesale in the 3rd quarter worth approximately $6,424,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $943.80 on Friday. The firm 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 current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $893.49 and its 200 day simple moving average is $850.73. Costco Wholesale Co. has a 12 month low of $562.01 and a 12 month high of $962.00.

Costco Wholesale (NASDAQ:COST) last released its earnings results 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. 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 for the quarter, compared to analysts’ expectations of $79.91 billion. During the same period in the previous year, the company earned $4.86 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current 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 $1.16 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.49%. Costco Wholesale’s payout ratio is presently 28.00%.

Insider Activity

In related news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction dated Tuesday, August 13th. The stock was 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 approximately $20,560,344. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the transaction, the executive vice president now owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,636 shares of company stock valued at $11,238,510 in the last 90 days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the topic of a number of research reports. Roth Mkm upped their price target on shares of Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Wells Fargo & Company raised their price target on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their price target on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research report on Thursday, August 8th. Finally, TD Cowen boosted their target price on shares of Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price 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.