Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Arrowroot Family Office LLC

Arrowroot Family Office LLC cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 10.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,017 shares of the retailer’s stock after selling 114 shares during the period. Arrowroot Family Office LLC’s holdings in Costco Wholesale were worth $901,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Costco Wholesale by 1.2% in 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 in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in 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 acquiring an additional 932 shares during the last quarter. Nwam LLC acquired a new position in shares of Costco Wholesale during the 3rd quarter worth approximately $20,056,000. Hudson Value Partners LLC grew its holdings in Costco Wholesale by 7.6% in the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock valued at $7,133,000 after buying an additional 568 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its holdings in shares of 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 valued at $2,738,000 after purchasing an additional 1,238 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on COST shares. Telsey Advisory Group reissued an “outperform” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research report on Friday. Roth Mkm upped their target price on shares of Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. The Goldman Sachs Group boosted their price objective on Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Stifel Nicolaus raised their target price on shares of Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their target price for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $908.81.

Costco Wholesale Stock Performance

NASDAQ COST opened at $971.88 on Monday. Costco Wholesale Co. has a twelve month low of $582.83 and a twelve month high of $976.30. The stock has a market cap of $430.61 billion, a P/E ratio of 58.65, a PEG ratio of 6.00 and a beta of 0.80. The company’s 50-day simple moving average is $907.62 and its 200 day simple moving average is $872.68. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The firm 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 revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $4.86 earnings per share. As a group, research analysts forecast that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Insider Activity

In related news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. This trade represents a 4.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 10,210 shares in the company, valued at $9,155,409.10. This represents a 16.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,016 shares of company stock worth $9,826,115 over the last quarter. 0.18% of the stock is currently owned by company insiders.

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.