Truehand Inc Has $4.24 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Truehand Inc lowered its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 11,947 shares of the retailer’s stock after selling 45 shares during the period. Costco Wholesale makes up 3.1% of Truehand Inc’s portfolio, making the stock its 4th largest position. Truehand Inc’s holdings in Costco Wholesale were worth $4,241,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Provident Wealth Management LLC bought a new position in Costco Wholesale during the third quarter worth about $26,000. Red Cedar Capital LLC grew its holdings in Costco Wholesale by 588.2% during the second quarter. Red Cedar Capital LLC now owns 117 shares of the retailer’s stock worth $35,000 after purchasing an additional 100 shares during the period. Campbell Wealth Management bought a new position in Costco Wholesale during the second quarter worth about $49,000. Cerebellum GP LLC bought a new position in Costco Wholesale during the second quarter worth about $32,000. Finally, Gables Capital Management Inc. grew its holdings in Costco Wholesale by 40.5% during the second quarter. Gables Capital Management Inc. now owns 177 shares of the retailer’s stock worth $54,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 68.20% of the company’s stock.

Shares of NASDAQ:COST opened at $381.54 on Friday. The company has a fifty day moving average of $351.05 and a 200-day moving average of $322.70. The company has a market capitalization of $168.35 billion, a PE ratio of 42.30, a price-to-earnings-growth ratio of 4.70 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.13. Costco Wholesale Co. has a 52-week low of $271.28 and a 52-week high of $384.87.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 24th. The retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.28. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $52.03 billion. Costco Wholesale had a net margin of 2.40% and a return on equity of 22.71%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.69 earnings per share. On average, equities analysts forecast that Costco Wholesale Co. will post 9.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, October 29th. This represents a $2.80 annualized dividend and a dividend yield of 0.73%. Costco Wholesale’s dividend payout ratio (DPR) is presently 31.64%.

In related news, EVP James C. Klauer sold 4,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $342.72, for a total value of $1,370,880.00. Following the sale, the executive vice president now owns 49,402 shares of the company’s stock, valued at $16,931,053.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Joseph P. Portera sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $348.00, for a total transaction of $2,088,000.00. Following the completion of the sale, the vice president now directly owns 6,211 shares in the company, valued at approximately $2,161,428. The disclosure for this sale can be found here. Insiders have sold 15,804 shares of company stock valued at $5,460,267 over the last quarter. Company insiders own 0.22% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group upgraded Costco Wholesale from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $321.00 to $435.00 in a report on Thursday. Raymond James boosted their price objective on Costco Wholesale from $355.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, September 25th. Cowen boosted their price objective on Costco Wholesale from $370.00 to $410.00 in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Costco Wholesale from $305.00 to $310.00 and gave the stock a “hold” rating in a report on Thursday, October 8th. They noted that the move was a valuation call. Finally, Barclays upgraded Costco Wholesale from an “equal weight” rating to an “overweight” rating and set a $400.00 price objective for the company in a report on Tuesday, October 6th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Costco Wholesale has an average rating of “Buy” and an average target price of $368.54.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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