Evolution Wealth Advisors LLC trimmed its stake in Costco Wholesale Co. (NASDAQ:COST) by 32.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,253 shares of the retailer’s stock after selling 600 shares during the period. Evolution Wealth Advisors LLC’s holdings in Costco Wholesale were worth $445,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of COST. Provident Wealth Management LLC bought a new position in shares of Costco Wholesale in the third quarter worth approximately $26,000. Cerebellum GP LLC bought a new position in Costco Wholesale during the second quarter valued at approximately $32,000. Red Cedar Capital LLC grew its position in Costco Wholesale by 588.2% during the second quarter. Red Cedar Capital LLC now owns 117 shares of the retailer’s stock valued at $35,000 after acquiring an additional 100 shares during the last quarter. Campbell Wealth Management bought a new position in Costco Wholesale during the second quarter valued at approximately $49,000. Finally, Gables Capital Management Inc. grew its position in Costco Wholesale by 40.5% during the second quarter. Gables Capital Management Inc. now owns 177 shares of the retailer’s stock valued at $54,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 68.20% of the company’s stock.
In other Costco Wholesale news, CFO Richard A. Galanti sold 1,754 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $345.00, for a total transaction of $605,130.00. Following the completion of the transaction, the chief financial officer now owns 18,983 shares of the company’s stock, valued at $6,549,135. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Decker sold 1,250 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $335.84, for a total value of $419,800.00. Following the transaction, the director now owns 25,497 shares of the company’s stock, valued at $8,562,912.48. The disclosure for this sale can be found here. Insiders have sold 15,804 shares of company stock valued at $5,460,267 in the last three months. Insiders own 0.22% of the company’s stock.
Shares of Costco Wholesale stock opened at $381.54 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $168.35 billion, a P/E ratio of 42.30, a P/E/G ratio of 4.70 and a beta of 0.69. The business has a fifty day simple moving average of $351.05 and a two-hundred day simple moving average of $322.70. Costco Wholesale Co. has a 12 month low of $271.28 and a 12 month high of $384.87.
Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 24th. The retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $52.03 billion. Costco Wholesale had a return on equity of 22.71% and a net margin of 2.40%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.69 earnings per share. Analysts predict that Costco Wholesale Co. will post 9.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, October 29th. Costco Wholesale’s dividend payout ratio is currently 31.64%.
COST has been the topic of a number of recent research reports. BidaskClub upgraded shares of Costco Wholesale from a “sell” rating to a “hold” rating in a research report on Thursday, September 24th. Oppenheimer increased their price target on shares of Costco Wholesale from $380.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. BMO Capital Markets increased their price target on shares of Costco Wholesale from $340.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, September 25th. Morgan Stanley increased their price objective on Costco Wholesale from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. Finally, MKM Partners increased their price objective on Costco Wholesale from $320.00 to $325.00 and gave the company a “neutral” rating in a research note on Friday, September 25th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $368.54.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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