Truvestments Capital LLC Purchases 1,883 Shares of Costco Wholesale Co. (NASDAQ:COST)

Truvestments Capital LLC grew its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 163.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,035 shares of the retailer’s stock after acquiring an additional 1,883 shares during the quarter. Truvestments Capital LLC’s holdings in Costco Wholesale were worth $2,690,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COST. Charles Schwab Investment Management Inc. grew its position in Costco Wholesale by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock valued at $2,489,574,000 after acquiring an additional 32,074 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in shares of Costco Wholesale by 62.8% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after purchasing an additional 932 shares in the last quarter. Hudson Value Partners LLC grew its holdings in shares of Costco Wholesale by 7.6% during the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock valued at $7,133,000 after purchasing an additional 568 shares during the last quarter. Nwam LLC purchased a new position in Costco Wholesale in the 3rd quarter worth $20,056,000. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its stake in Costco Wholesale by 66.9% in the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock worth $2,738,000 after purchasing an additional 1,238 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COST. Redburn Atlantic lowered Costco Wholesale from a “buy” rating to a “neutral” rating and increased their price objective for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a report on Thursday, August 8th. Roth Mkm boosted their price target on Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a report on Friday, September 27th. BMO Capital Markets increased their price objective on Costco Wholesale from $980.00 to $1,075.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Finally, StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $908.81.

Insider Activity at Costco Wholesale

In other news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the sale, the executive vice president now owns 10,202 shares of the company’s stock, valued at $9,091,512.30. This trade represents a 30.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 27.05 % 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 over the last ninety days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.6 %

NASDAQ:COST opened at $970.00 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The firm has a market cap of $429.78 billion, a P/E ratio of 58.18, a P/E/G ratio of 5.95 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $582.83 and a fifty-two week high of $976.30. The firm has a 50-day simple moving average of $901.18 and a two-hundred day simple moving average of $866.19.

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

Costco Wholesale Dividend Announcement

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

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.