Prosperity Financial Group Inc. Grows Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Prosperity Financial Group Inc. lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.1% in the third quarter, HoldingsChannel.com reports. The firm owned 3,149 shares of the retailer’s stock after purchasing an additional 180 shares during the period. Costco Wholesale comprises 1.6% of Prosperity Financial Group Inc.’s investment portfolio, making the stock its 16th largest position. Prosperity Financial Group Inc.’s holdings in Costco Wholesale were worth $2,792,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of COST. Fisher Asset Management LLC lifted its holdings in Costco Wholesale by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,034,491 shares of the retailer’s stock worth $2,690,138,000 after buying an additional 78,590 shares during the period. Daiwa Securities Group Inc. lifted its stake in Costco Wholesale by 19.0% in the third quarter. Daiwa Securities Group Inc. now owns 105,621 shares of the retailer’s stock worth $93,635,000 after acquiring an additional 16,836 shares during the period. Pekin Hardy Strauss Inc. boosted its holdings in Costco Wholesale by 1.7% in the third quarter. Pekin Hardy Strauss Inc. now owns 760 shares of the retailer’s stock valued at $674,000 after acquiring an additional 13 shares in the last quarter. Summit Trail Advisors LLC increased its position in Costco Wholesale by 3.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,573 shares of the retailer’s stock valued at $5,827,000 after purchasing an additional 208 shares during the period. Finally, Capital Investment Counsel LLC increased its position in Costco Wholesale by 1.8% during the 3rd quarter. Capital Investment Counsel LLC now owns 14,365 shares of the retailer’s stock valued at $12,735,000 after purchasing an additional 257 shares during the period. 68.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

COST has been the topic of a number of research reports. Truist Financial lowered shares of 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. Evercore ISI upped their target price on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Oppenheimer raised their target price on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. DA Davidson restated a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. Finally, StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $908.81.

Insider Activity

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction dated Thursday, October 24th. The stock was 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 owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were 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 of the company’s stock, valued at approximately $9,155,409.10. This represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock valued at $9,826,115 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Trading Up 0.9 %

Shares of NASDAQ:COST opened at $964.01 on Monday. Costco Wholesale Co. has a 1 year low of $582.83 and a 1 year high of $976.30. The stock’s fifty day moving average price is $901.18 and its 200-day moving average price is $866.19. The company has a market cap of $427.12 billion, a P/E ratio of 58.18, a PEG ratio of 5.95 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 (NASDAQ:COST) last announced its quarterly earnings results 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. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The firm had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter last year, the firm posted $4.86 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.48%. Costco Wholesale’s dividend payout ratio is presently 28.00%.

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.