RF&L Wealth Management LLC Acquires 2,006 Shares of Costco Wholesale Corporation $COST

RF&L Wealth Management LLC grew its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 107.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,871 shares of the retailer’s stock after buying an additional 2,006 shares during the period. Costco Wholesale makes up 2.1% of RF&L Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. RF&L Wealth Management LLC’s holdings in Costco Wholesale were worth $3,583,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Costco Wholesale by 1.7% during the second quarter. Vanguard Group Inc. now owns 43,356,271 shares of the retailer’s stock worth $42,920,107,000 after acquiring an additional 711,560 shares in the last quarter. State Street Corp raised its holdings in shares of Costco Wholesale by 0.5% during the second quarter. State Street Corp now owns 18,325,416 shares of the retailer’s stock valued at $18,141,062,000 after purchasing an additional 90,107 shares during the period. Geode Capital Management LLC raised its holdings in shares of Costco Wholesale by 1.5% during the second quarter. Geode Capital Management LLC now owns 10,275,056 shares of the retailer’s stock valued at $10,124,263,000 after purchasing an additional 150,844 shares during the period. Norges Bank bought a new position in shares of Costco Wholesale during the 2nd quarter worth about $5,692,035,000. Finally, Alliancebernstein L.P. grew its stake in shares of Costco Wholesale by 0.4% in the 1st quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer’s stock valued at $4,097,127,000 after buying an additional 18,045 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Down 0.6%

COST stock opened at $857.59 on Friday. The firm has a market capitalization of $380.74 billion, a PE ratio of 45.93, a P/E/G ratio of 5.17 and a beta of 1.00. The company has a quick ratio of 0.53, a current ratio of 1.04 and a debt-to-equity ratio of 0.19. Costco Wholesale Corporation has a twelve month low of $844.06 and a twelve month high of $1,078.23. The stock’s 50 day moving average is $911.38 and its 200-day moving average is $946.61.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, December 11th. The retailer reported $4.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.27 by $0.07. The business had revenue of $67.31 billion during the quarter, compared to the consensus estimate of $67.03 billion. Costco Wholesale had a return on equity of 29.35% and a net margin of 2.96%.Costco Wholesale’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.04 earnings per share. Sell-side analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a $1.30 dividend. The ex-dividend date was Friday, October 31st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is currently 27.85%.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. BTIG Research began coverage on Costco Wholesale in a report on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 price objective for the company. Truist Financial lowered their target price on Costco Wholesale from $1,033.00 to $926.00 and set a “hold” rating on the stock in a research report on Friday, December 12th. JPMorgan Chase & Co. increased their target price on Costco Wholesale from $1,025.00 to $1,027.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Finally, The Goldman Sachs Group reduced their price target on shares of Costco Wholesale from $1,218.00 to $1,171.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $991.39.

Insider Activity

In other Costco Wholesale news, insider Tiffany Marie Barbre sold 1,239 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the sale, the insider owned 5,155 shares in the company, valued at approximately $4,817,966.10. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 2,700 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the transaction, the executive vice president directly owned 6,851 shares in the company, valued at approximately $6,410,343.68. This represents a 28.27% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 9,720 shares of company stock worth $9,010,257. Company insiders own 0.10% 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.