Mainsail Financial Group LLC Sells 980 Shares of Costco Wholesale Co. (NASDAQ:COST)

Mainsail Financial Group LLC cut its position in Costco Wholesale Co. (NASDAQ:COST) by 24.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,038 shares of the retailer’s stock after selling 980 shares during the quarter. Costco Wholesale makes up approximately 1.6% of Mainsail Financial Group LLC’s investment portfolio, making the stock its 21st largest holding. Mainsail Financial Group LLC’s holdings in Costco Wholesale were worth $2,762,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of COST. Redmont Wealth Advisors LLC bought a new stake in shares of Costco Wholesale in the first quarter valued at approximately $32,000. Financial Connections Group Inc. raised its stake in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. Bank & Trust Co bought a new stake in Costco Wholesale in the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. increased 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 worth $50,000 after purchasing an additional 25 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of Costco Wholesale during the 2nd quarter worth about $50,000. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

COST has been the topic of a number of recent research reports. Bank of America lifted their target price on Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Stifel Nicolaus boosted their price objective on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein assumed coverage on Costco Wholesale in a research report on Tuesday. They issued an “outperform” rating and a $1,016.00 target price for the company. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a report on Thursday, August 8th. Finally, Melius Research started coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective for the company. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $894.57.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of Costco Wholesale 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 owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the transaction, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,220 shares of company stock worth $9,971,643 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.6 %

Shares of COST opened at $899.17 on Thursday. The business’s fifty day moving average price is $891.03 and its two-hundred day moving average price is $836.93. The firm has a market capitalization of $398.63 billion, a price-to-earnings ratio of 55.71, a PEG ratio of 5.47 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. 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 (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.86 earnings per share. On average, analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

About Costco Wholesale

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.