West Michigan Advisors LLC Has $269,000 Stake in Costco Wholesale Co. (NASDAQ:COST)

West Michigan Advisors LLC cut its holdings in Costco Wholesale Co. (NASDAQ:COST) by 43.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 303 shares of the retailer’s stock after selling 229 shares during the period. West Michigan Advisors LLC’s holdings in Costco Wholesale were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Fermata Advisors LLC increased its holdings in Costco Wholesale by 0.6% in the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after purchasing an additional 11 shares in the last quarter. Oak Asset Management LLC lifted its position in shares of Costco Wholesale by 0.3% during the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after acquiring an additional 12 shares during the period. Peddock Capital Advisors LLC lifted its position in shares of Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after acquiring an additional 12 shares during the period. Perkins Coie Trust Co boosted its stake in Costco Wholesale by 0.3% during the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after acquiring an additional 12 shares in the last quarter. Finally, Horizon Wealth Management LLC increased its stake in Costco Wholesale by 4.7% in the third quarter. Horizon Wealth Management LLC now owns 268 shares of the retailer’s stock valued at $237,000 after purchasing an additional 12 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $891.22 on Friday. The stock’s 50-day moving average is $891.35 and its 200 day moving average is $837.33. The stock has a market cap of $394.87 billion, a price-to-earnings ratio of 53.79, a P/E/G ratio of 5.50 and a beta of 0.80. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. 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 (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the business posted $4.86 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business 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 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on COST. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a research note on Thursday, August 8th. StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Loop Capital upped their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Morgan Stanley lifted their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $980.00 price objective (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $894.57.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the sale, the executive vice president now directly owns 22,900 shares in the company, valued at $20,015,745. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction 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 $10,320,787.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $437,025.00. Following the completion of the sale, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,636 shares of company stock worth $11,238,510. Company insiders own 0.18% of the company’s stock.

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.