Garner Asset Management Corp Sells 45 Shares of Costco Wholesale Co. (NASDAQ:COST)

Garner Asset Management Corp decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,753 shares of the retailer’s stock after selling 45 shares during the quarter. Costco Wholesale comprises about 1.9% of Garner Asset Management Corp’s holdings, making the stock its 8th largest position. Garner Asset Management Corp’s holdings in Costco Wholesale were worth $4,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Connections Group Inc. lifted its position in 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 buying an additional 39 shares in the last quarter. Bank & Trust Co acquired a new position in shares of Costco Wholesale during the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after acquiring an additional 25 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Costco Wholesale in the 2nd quarter valued at $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Costco Wholesale during the third quarter worth about $58,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $964.01 on Friday. The firm’s 50-day moving average is $901.18 and its 200-day moving average is $865.47. The company has a market cap of $427.12 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 5.90 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 Co. has a 52-week low of $582.83 and a 52-week high of $976.30.

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, beating analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.86 EPS. Equities research analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the sale, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. The trade was a 30.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the business’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 transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,016 shares of company stock valued at $9,826,115. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the topic of several recent research reports. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target on the stock. in a research report on Tuesday, September 24th. TD Cowen raised their price target on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Barclays upped their price objective on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Evercore ISI lifted their target price on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, DA Davidson reissued a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $908.81.

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.