Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Optimum Investment Advisors

Optimum Investment Advisors cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,288 shares of the retailer’s stock after selling 210 shares during the quarter. Costco Wholesale accounts for about 2.4% of Optimum Investment Advisors’ investment portfolio, making the stock its 5th largest holding. Optimum Investment Advisors’ holdings in Costco Wholesale were worth $5,575,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale during the 1st quarter valued at about $32,000. Financial Connections Group Inc. lifted its holdings in shares of 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 buying an additional 39 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of Costco Wholesale during the 2nd quarter valued at about $48,000. Ruedi Wealth Management Inc. lifted 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 valued at $50,000 after buying an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Costco Wholesale during the 2nd quarter valued at about $50,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

COST opened at $885.29 on Friday. The stock has a market cap of $392.48 billion, a PE ratio of 54.85, a P/E/G ratio of 5.53 and a beta of 0.80. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The stock’s 50 day simple moving average is $888.57 and its 200-day simple moving average is $831.04.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $4.86 earnings per share. Sell-side analysts forecast that Costco Wholesale Co. will post 17.73 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on COST shares. The Goldman Sachs Group lifted their price target on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research note on Thursday, August 8th. Stifel Nicolaus raised their price objective on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird raised their price objective on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Finally, DA Davidson reissued a “neutral” rating and issued a $880.00 price objective on shares of Costco Wholesale in a research note on Thursday, October 10th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $890.07.

Insider Activity at Costco Wholesale

In related news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the transaction, the executive vice president now owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. The trade was 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 hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now directly owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,224 shares of company stock valued at $9,974,973 in the last 90 days. 0.18% of the stock is owned by corporate 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.