Concentric Wealth Management LLC Trims Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Concentric Wealth Management LLC cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,574 shares of the retailer’s stock after selling 439 shares during the quarter. Costco Wholesale makes up approximately 1.4% of Concentric Wealth Management LLC’s portfolio, making the stock its 26th biggest holding. Concentric Wealth Management LLC’s holdings in Costco Wholesale were worth $5,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fermata Advisors LLC boosted its position in shares of Costco Wholesale by 0.6% during the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after acquiring an additional 11 shares in the last quarter. Oak Asset Management LLC boosted its holdings in Costco Wholesale by 0.3% during the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares in the last quarter. Peddock Capital Advisors LLC grew its stake in shares of Costco Wholesale by 0.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares during the period. Perkins Coie Trust Co raised its holdings in shares of Costco Wholesale by 0.3% in the 3rd quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after buying an additional 12 shares in the last quarter. Finally, Firethorn Wealth Partners LLC lifted its position in shares of Costco Wholesale by 3.5% during the 3rd quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock worth $318,000 after buying an additional 12 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on COST shares. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a research report on Thursday, August 8th. Roth Mkm upped their price target on shares of Costco Wholesale from $676.00 to $755.00 and gave the stock a “neutral” rating in a research report on Friday, September 27th. Telsey Advisory Group restated an “outperform” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $908.81.

Costco Wholesale Price Performance

NASDAQ:COST opened at $964.01 on Monday. The stock has a market capitalization of $427.12 billion, a PE ratio of 58.18, a P/E/G ratio of 5.95 and a beta of 0.80. Costco Wholesale Co. has a 1-year low of $582.83 and a 1-year high of $976.30. The firm has a fifty day simple moving average of $901.18 and a 200 day simple moving average of $866.19. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same period in the previous year, the business earned $4.86 EPS. Costco Wholesale’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared 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. This represents a $4.64 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s dividend payout ratio is 28.00%.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at $9,155,409.10. This represents a 16.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,016 shares of company stock valued at $9,826,115 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

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.