Violich Capital Management Inc. Has $55 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Violich Capital Management Inc. lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,042 shares of the retailer’s stock after purchasing an additional 300 shares during the quarter. Costco Wholesale comprises 7.1% of Violich Capital Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Violich Capital Management Inc.’s holdings in Costco Wholesale were worth $55,001,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the 1st quarter worth about $32,000. Financial Connections Group Inc. increased its position in shares of 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 acquiring an additional 39 shares in the last quarter. Bank & Trust Co purchased a new position in Costco Wholesale in the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. lifted its position in Costco Wholesale by 73.5% in 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. Finally, Summit Securities Group LLC purchased a new stake in Costco Wholesale during the 2nd quarter valued at $50,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Up 0.5 %

Shares of NASDAQ:COST opened at $889.56 on Monday. The company has a market cap of $394.37 billion, a price-to-earnings ratio of 55.12, a PEG ratio of 5.48 and a beta of 0.80. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month 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. The company has a 50-day moving average price of $889.26 and a 200 day moving average price of $833.95.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data 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. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same period last year, the company earned $4.86 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that Costco Wholesale Co. will post 17.74 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on COST shares. Bank of America upped their price target on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Tigress Financial reaffirmed a “buy” rating and set a $1,065.00 price target on shares of Costco Wholesale in a report on Thursday. Morgan Stanley boosted their price objective on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. TD Cowen boosted their target price on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $890.07.

Insider Transactions at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares in the company, valued at approximately $9,155,409.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the sale, the executive vice president now directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the transaction, the executive vice president now owns 10,210 shares in the company, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,224 shares of company stock worth $9,974,973. 0.18% of the stock is currently owned by insiders.

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.