Resources Management Corp CT ADV Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)

Resources Management Corp CT ADV bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,478 shares of the retailer’s stock, valued at approximately $2,154,000.

Several other institutional investors also recently bought and sold shares of the company. Institutional & Family Asset Management LLC raised its stake in shares of Costco Wholesale by 49.0% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 462 shares of the retailer’s stock worth $133,000 after purchasing an additional 152 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Costco Wholesale in the 3rd quarter valued at approximately $4,698,000. Metropolitan Life Insurance Co NY grew its stake in shares of Costco Wholesale by 0.5% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 88,430 shares of the retailer’s stock valued at $25,478,000 after buying an additional 420 shares in the last quarter. Man Group plc increased its holdings in Costco Wholesale by 23.0% in the third quarter. Man Group plc now owns 63,948 shares of the retailer’s stock worth $18,424,000 after buying an additional 11,941 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its holdings in Costco Wholesale by 162.2% in the third quarter. Prestige Wealth Management Group LLC now owns 1,130 shares of the retailer’s stock worth $326,000 after buying an additional 699 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

NASDAQ:COST traded up $0.85 during midday trading on Wednesday, reaching $296.52. The stock had a trading volume of 1,709,146 shares, compared to its average volume of 1,608,069. The stock has a market capitalization of $131.81 billion, a P/E ratio of 36.21, a PEG ratio of 4.12 and a beta of 0.91. Costco Wholesale Co. has a 1-year low of $189.51 and a 1-year high of $307.34. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.01 and a quick ratio of 0.52. The firm’s fifty day simple moving average is $299.90 and its 200-day simple moving average is $280.60.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, October 3rd. The retailer reported $2.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.54 by $0.15. The firm had revenue of $47.50 billion during the quarter, compared to analyst estimates of $47.71 billion. Costco Wholesale had a net margin of 2.40% and a return on equity of 25.00%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 EPS. On average, equities research analysts anticipate that Costco Wholesale Co. will post 8.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.65 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.88%. Costco Wholesale’s payout ratio is presently 31.75%.

In related news, Director Susan L. Decker sold 333 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $297.50, for a total transaction of $99,067.50. Following the transaction, the director now owns 41,470 shares of the company’s stock, valued at $12,337,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul G. Moulton sold 5,976 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $298.06, for a total transaction of $1,781,206.56. Following the transaction, the vice president now owns 36,010 shares of the company’s stock, valued at $10,733,140.60. The disclosure for this sale can be found here. Insiders have sold a total of 36,780 shares of company stock valued at $11,032,292 in the last three months. 0.21% of the stock is owned by insiders.

A number of research firms have issued reports on COST. Royal Bank of Canada lifted their target price on shares of Costco Wholesale from $321.00 to $329.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. boosted their target price on shares of Costco Wholesale from $271.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Wells Fargo & Co increased their price target on shares of Costco Wholesale from $240.00 to $290.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Telsey Advisory Group raised their price target on shares of Costco Wholesale from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Edward Jones lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $295.04.

Costco Wholesale Company Profile

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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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