Parcion Private Wealth LLC Sells 265 Shares of Costco Wholesale Co. (NASDAQ:COST)

Parcion Private Wealth LLC reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.7% during the third quarter, HoldingsChannel.com reports. The fund owned 5,331 shares of the retailer’s stock after selling 265 shares during the quarter. Parcion Private Wealth LLC’s holdings in Costco Wholesale were worth $4,726,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in Costco Wholesale during the first quarter worth $32,000. Financial Connections Group Inc. raised its stake in shares of Costco Wholesale by 557.1% in the second 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 period. Bank & Trust Co bought a new stake in shares of Costco Wholesale in the second quarter valued at $48,000. Ruedi Wealth Management Inc. raised its stake in shares of Costco Wholesale by 73.5% in the second 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 period. Finally, Summit Securities Group LLC bought a new stake in shares of Costco Wholesale in the second quarter valued at $50,000. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Trading Down 0.2 %

COST opened at $891.22 on Friday. The business has a 50 day simple moving average of $891.76 and a two-hundred day simple moving average of $839.41. The firm has a market capitalization of $394.87 billion, a price-to-earnings ratio of 53.79, a PEG ratio of 5.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $923.83.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.86 EPS. Analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Insiders Place Their Bets

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 10,210 shares in the company, valued at approximately $9,155,409.10. This represents 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 related news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the sale, the executive vice president now owns 10,210 shares in the company, valued at $9,155,409.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,636 shares of company stock worth $11,238,510. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price on the stock. in a research note on Tuesday, September 24th. Roth Mkm lifted their price target on Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Stifel Nicolaus lifted their price target on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Loop Capital lifted their price target on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $894.57.

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.