Claro Advisors Inc. Buys 820 Shares of Costco Wholesale Corporation $COST

Claro Advisors Inc. boosted its stake in Costco Wholesale Corporation (NASDAQ:COST) by 33.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,250 shares of the retailer’s stock after purchasing an additional 820 shares during the period. Claro Advisors Inc.’s holdings in Costco Wholesale were worth $2,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. grew its holdings in shares of Costco Wholesale by 107.7% in the third quarter. Contravisory Investment Management Inc. now owns 27 shares of the retailer’s stock worth $25,000 after purchasing an additional 14 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Costco Wholesale in the second quarter worth $28,000. Burk Holdings LLC bought a new stake in Costco Wholesale during the 2nd quarter valued at $30,000. Manning & Napier Advisors LLC bought a new stake in Costco Wholesale during the 2nd quarter valued at $30,000. Finally, John Boyer Inc. purchased a new stake in Costco Wholesale during the 3rd quarter valued at $32,000. Institutional investors own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In related news, EVP William Richard Wilcox sold 1,100 shares of the stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $958.21, for a total value of $1,054,031.00. Following the completion of the transaction, the executive vice president directly owned 3,094 shares of the company’s stock, valued at $2,964,701.74. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Claudine Adamo sold 2,200 shares of the firm’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $915.93, for a total transaction of $2,015,046.00. Following the completion of the sale, the executive vice president owned 7,134 shares of the company’s stock, valued at $6,534,244.62. This trade represents a 23.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $1,160.00 price target on shares of Costco Wholesale in a report on Wednesday, September 16th. CICC Research began coverage on shares of Costco Wholesale in a research note on Wednesday, October 21st. They set an “outperform” rating and a $1,050.00 price objective for the company. Jefferies Financial Group lowered their price objective on shares of Costco Wholesale from $1,130.00 to $1,100.00 in a research note on Friday, September 25th. Argus reiterated a “buy” rating and set a $1,230.00 target price on shares of Costco Wholesale in a report on Monday, September 28th. Finally, Sanford C. Bernstein cut their target price on Costco Wholesale from $1,144.00 to $1,143.00 and set an “outperform” rating on the stock in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,090.55.

Key Stories Impacting Costco Wholesale

Here are the key news stories impacting Costco Wholesale this week:

• Positive Sentiment: JPMorgan raised its price target to $1,150 from $1,015 and maintained an Overweight rating, citing potential upside from the current level. JPMorgan analyst recommendations
• Positive Sentiment: October net sales increased 12.6% year over year to $24.50 billion. U.S. comparable sales also rose 12.6%; Bank of America noted that U.S. comps were up 8.1% after adjusting for gasoline price changes and maintained its Buy rating. The strong sales momentum is a key near-term catalyst. Costco October sales results Bank of America rating and U.S. comparable sales
• Negative Sentiment: Valuation concerns persist after Costco’s rally: some commentary argues the stock’s elevated earnings multiple leaves limited room for disappointment. Citi maintained a Hold rating and $1,020 price target, below the recently quoted share price. Citi rating and price target Costco valuation discussion

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $1,065.59 on Friday. The company has a quick ratio of 0.62, a current ratio of 1.06 and a debt-to-equity ratio of 0.11. The company has a market cap of $472.19 billion, a PE ratio of 51.33, a P/E/G ratio of 4.47 and a beta of 0.85. The business has a 50 day moving average of $950.04 and a 200 day moving average of $972.05. Costco Wholesale Corporation has a 52 week low of $844.06 and a 52 week high of $1,096.50.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 24th. The retailer reported $6.75 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.21. The company had revenue of $95.72 billion during the quarter, compared to analyst estimates of $94.97 billion. Costco Wholesale had a return on equity of 27.60% and a net margin of 3.04%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.87 earnings per share. As a group, equities research analysts forecast that Costco Wholesale Corporation will post 22.70 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s payout ratio is presently 28.32%.

Costco Wholesale Profile

Costco Wholesale Corporation operates a membership-based warehouse retail business under the Costco name. The company sells merchandise in bulk and at competitive prices through warehouse clubs and e-commerce platforms, serving individual consumers, businesses and other organizations.

Its product selection includes groceries and fresh foods, household supplies, appliances, electronics, furniture, apparel, health and beauty products, jewelry, automotive products and prescription drugs. Costco also provides services such as optical care, pharmacy services, hearing-aid sales, travel offerings and fuel sales, depending on location.

The company traces its roots to Price Club, which opened in San Diego in 1976.