Gateway Wealth Partners LLC Raises Holdings in Costco Wholesale Co. (NASDAQ:COST)

Gateway Wealth Partners LLC lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 26.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,011 shares of the retailer’s stock after purchasing an additional 209 shares during the period. Gateway Wealth Partners LLC’s holdings in Costco Wholesale were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Wells Trecaso Financial Group LLC increased its stake in Costco Wholesale by 6.0% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 369 shares of the retailer’s stock valued at $327,000 after purchasing an additional 21 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Costco Wholesale by 41.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,460 shares of the retailer’s stock valued at $10,160,000 after purchasing an additional 3,376 shares in the last quarter. Traynor Capital Management Inc. increased its stake in Costco Wholesale by 17.0% in the 3rd quarter. Traynor Capital Management Inc. now owns 2,772 shares of the retailer’s stock valued at $2,458,000 after purchasing an additional 402 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. increased its stake in Costco Wholesale by 66.9% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock valued at $2,738,000 after purchasing an additional 1,238 shares in the last quarter. Finally, Smith Group Asset Management LLC increased its stake in Costco Wholesale by 2.6% in the 3rd quarter. Smith Group Asset Management LLC now owns 48,238 shares of the retailer’s stock valued at $42,764,000 after purchasing an additional 1,213 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $886.99 on Wednesday. Costco Wholesale Co. has a twelve month low of $543.64 and a twelve month high of $923.83. The stock has a market capitalization of $393.00 billion, a P/E ratio of 53.53, a PEG ratio of 5.48 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. The business’s fifty day moving average price is $892.35 and its 200 day moving average price is $842.45.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter last year, the firm earned $4.86 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is currently 28.00%.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale 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 in the company, valued at approximately $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the transaction, the executive vice president now directly owns 23,800 shares in the company, valued at $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,636 shares of company stock worth $11,238,510. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COST has been the subject of several research analyst reports. Bank of America raised their price objective on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. BMO Capital Markets reiterated an “outperform” rating and set a $980.00 target price (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Evercore ISI increased their target price on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Wells Fargo & Company increased their target price on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Finally, Loop Capital increased their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $894.57.

Costco Wholesale Company 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.