Algert Global LLC Has $6.61 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Algert Global LLC lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 1,760.3% during the third quarter, Holdings Channel.com reports. The fund owned 7,460 shares of the retailer’s stock after buying an additional 7,059 shares during the period. Algert Global LLC’s holdings in Costco Wholesale were worth $6,613,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of COST. Financial Connections Group Inc. increased its position in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares during the last quarter. Bank & Trust Co acquired a new position in Costco Wholesale during the second quarter worth approximately $48,000. Ruedi Wealth Management Inc. increased its position in Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after buying an additional 25 shares during the last quarter. Summit Securities Group LLC acquired a new position in Costco Wholesale during the second quarter worth approximately $50,000. Finally, Fairway Wealth LLC increased its position in Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Up 0.9 %

NASDAQ COST opened at $964.01 on Friday. The business has a fifty day moving average price of $901.18 and a two-hundred day moving average price of $865.47. 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 fifty-two week low of $582.83 and a fifty-two week high of $976.30. The stock has a market capitalization of $427.12 billion, a PE ratio of 58.18, a PEG ratio of 5.90 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last announced 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. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same period in the prior year, the company earned $4.86 EPS. Costco Wholesale’s revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insider Activity

In related news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. This represents a 4.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $888.99, for a total value 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. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,016 shares of company stock worth $9,826,115. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

COST has been the topic of a number of recent analyst reports. Roth Mkm boosted their price target on Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Evercore ISI boosted their price target on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Tigress Financial reaffirmed a “buy” rating and issued a $1,065.00 target price on shares of Costco Wholesale in a research report on Thursday, October 17th. Morgan Stanley upped their target price on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, BMO Capital Markets upped their target price on Costco Wholesale from $980.00 to $1,075.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $908.81.

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.