Silicon Valley Capital Partners Increases Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Silicon Valley Capital Partners grew its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,522 shares of the retailer’s stock after acquiring an additional 84 shares during the period. Costco Wholesale comprises approximately 1.4% of Silicon Valley Capital Partners’ portfolio, making the stock its 16th biggest holding. Silicon Valley Capital Partners’ holdings in Costco Wholesale were worth $11,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Connections Group Inc. grew its holdings in 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 purchasing an additional 39 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of Costco Wholesale in the 2nd quarter worth $48,000. Ruedi Wealth Management Inc. grew its holdings in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares in the last quarter. Summit Securities Group LLC purchased a new position in Costco Wholesale during the second quarter valued at approximately $50,000. Finally, Fairway Wealth LLC increased its holdings in shares of Costco Wholesale by 230.0% in the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after acquiring an additional 46 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,636 shares of company stock valued at $11,238,510 over the last ninety days. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Down 0.3 %

Shares of Costco Wholesale stock opened at $875.00 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The firm has a market cap of $387.69 billion, a price-to-earnings ratio of 52.95, a P/E/G ratio of 5.38 and a beta of 0.80. Costco Wholesale Co. has a 52-week low of $560.13 and a 52-week high of $923.83. The stock has a 50-day simple moving average of $892.20 and a 200-day simple moving average of $845.83.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The company 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%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.86 earnings per share. On average, equities research analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on COST shares. Stifel Nicolaus raised their price objective on Costco Wholesale from $925.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. The Goldman Sachs Group upped their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Loop Capital lifted their target price on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target for the company in a research note on Thursday, August 8th. Finally, Roth Mkm increased their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $905.30.

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.