Worldly Partners Management LLC Has $80.16 Million Stake in Costco Wholesale Co. (NASDAQ:COST)
Worldly Partners Management LLC increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.7% during Q3, owning 90,416 shares valued at $156,000. Costco represents 38.1% of their portfolio. Other institutional investors also raised their stakes. Costco's stock rose 1.1%, with a market cap of $161.61 billion and a P/E ratio of 58.65. The company reported Q3 earnings of $3.15 EPS, beating estimates, and declared a quarterly dividend of $0.16. Insiders have sold shares recently, with EVP Pierre Riel selling 2,000 shares.
Worldly Partners Management LLC increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,416 shares of the retailer's stock after acquiring an additional 622 shares during the quarter. Costco Wholesale comprises about 38.1% of Worldly Partners Management LLC's investment portfolio, making the stock its 2nd largest holding. Worldly Partners Management LLC's holdings in Costco Wholesale were worth $80,156,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors have also bought and sold shares of the company. Fermata Advisors LLC grew its position in Costco Wholesale by 0.6% during the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer's stock worth $1,745,000 after buying an additional 11 shares in the last quarter. Oak Asset Management LLC grew its holdings in shares of Costco Wholesale by 0.3% during the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer's stock worth $3,737,000 after purchasing an additional 12 shares in the last quarter. Peddock Capital Advisors LLC grew its stake in Costco Wholesale by 0.7% during the second quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer's stock worth $1,518,000 after buying an additional 12 shares in the last quarter. Perkins Coie Trust Co boosted its position in shares of Costco Wholesale by 0.3% during the 3rd quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer's stock worth $4,144,000 after acquiring an additional 12 shares in the last quarter. Finally, Horizon Wealth Management LLC increased its stake in Costco Wholesale by 4.7% in the third quarter. Horizon Wealth Management LLC now owns 268 shares of the retailer's stock valued at $237,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.
Costco Wholesale Stock Up 1.1 %
Shares of NASDAQ:COST opened at $971.88 on Friday. The firm has a market cap of $430.61 billion, a P/E ratio of 58.65, a PEG ratio of 5.93 and a beta of 0.80. Costco Wholesale Co. has a 52-week low of $582.83 and a 52-week high of $976.30. The business's 50 day simple moving average is $907.62 and its two-hundred day simple moving average is $871.42. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97.
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Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating 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 business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter last year, the firm posted $4.86 EPS. Costco Wholesale's revenue was up 1.0% compared to the same quarter last year. As a group, research analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.
Costco Wholesale Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.48%. Costco Wholesale's payout ratio is 28.00%.
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In other news, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale 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 sale, the executive vice president now owns 27,400 shares in the company, valued at $24,514,232. This trade represents a 4.91 % 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 valued at $9,826,115. Corporate insiders own 0.18% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. Telsey Advisory Group restated an "outperform" rating and set a $1,000.00 target price on shares of Costco Wholesale in a research note on Friday. Sanford C. Bernstein began coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $1,016.00 price objective for the company. Tigress Financial reiterated a "buy" rating and issued a $1,065.00 target price on shares of Costco Wholesale in a research report on Thursday, October 17th. Oppenheimer increased their target price on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. Finally, Melius Research assumed coverage on shares of Costco Wholesale in a report on Monday, September 23rd. They set a "hold" rating and a $950.00 price target on the stock. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and an average target price of $908.81.
Get Our Latest Stock Report on Costco Wholesale
Costco Wholesale Company Profile
(Free Report)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.
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