Meadow Creek Wealth Advisors LLC Sells 52 Shares of Costco Wholesale Co. (NASDAQ:COST)

Meadow Creek Wealth Advisors LLC cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.1% in the third quarter, HoldingsChannel.com reports. The fund owned 1,633 shares of the retailer’s stock after selling 52 shares during the period. Costco Wholesale makes up 1.1% of Meadow Creek Wealth Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Meadow Creek Wealth Advisors LLC’s holdings in Costco Wholesale were worth $1,448,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in Costco Wholesale during the 1st quarter worth approximately $32,000. Financial Connections Group Inc. increased its stake in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares in the last quarter. Bank & Trust Co bought a new stake in Costco Wholesale during the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. boosted its position in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in Costco Wholesale during the 2nd quarter worth approximately $50,000. 68.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

COST has been the subject of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $980.00 price target (up previously from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Oppenheimer upped their price target on Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Loop Capital upped their price target on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target for the company in a research report on Thursday, August 8th. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target of $894.57.

Costco Wholesale Stock Up 0.6 %

COST opened at $899.17 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The stock has a market cap of $398.63 billion, a PE ratio of 55.71, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80. The stock’s fifty day simple moving average is $891.03 and its 200 day simple moving average is $836.93. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83.

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

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is 28.75%.

Insiders Place Their Bets

In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the transaction, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the transaction, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,220 shares of company stock worth $9,971,643 in the last 90 days. Company insiders own 0.18% of the company’s stock.

About Costco Wholesale

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.