Costco Wholesale Co. (NASDAQ:COST) is Beese Fulmer Investment Management Inc.’s 7th Largest Position

Beese Fulmer Investment Management Inc. cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,088 shares of the retailer’s stock after selling 593 shares during the quarter. Costco Wholesale accounts for about 2.4% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 7th biggest holding. Beese Fulmer Investment Management Inc.’s holdings in Costco Wholesale were worth $27,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of COST. Redmont Wealth Advisors LLC bought a new stake in Costco Wholesale in the 1st quarter worth approximately $32,000. Financial Connections Group Inc. raised its position in Costco Wholesale by 557.1% in 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 during the period. Bank & Trust Co bought a new stake in Costco Wholesale in the second quarter worth $48,000. Ruedi Wealth Management Inc. grew its stake in shares of Costco Wholesale by 73.5% during the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Costco Wholesale in the second quarter worth about $50,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST opened at $893.42 on Friday. The firm has a fifty day simple moving average of $891.03 and a two-hundred day simple moving average of $836.93. The firm has a market cap of $395.85 billion, a PE ratio of 53.92, a P/E/G ratio of 5.50 and a beta of 0.80. 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 Co. has a 1-year low of $540.23 and a 1-year high of $923.83.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. Costco Wholesale’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.86 earnings per share. On average, equities analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a report on Thursday, August 8th. Redburn Atlantic lowered Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. Barclays lifted their price target on shares of Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a report on Tuesday. They issued an “outperform” rating and a $1,016.00 price objective for the company. Finally, Robert W. Baird boosted their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $894.57.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of the sale, the executive vice president now owns 23,800 shares of the company’s stock, valued at $20,560,344. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 in the company, valued at $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the sale, the executive vice president now owns 23,800 shares in the company, valued at $20,560,344. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,636 shares of company stock valued at $11,238,510. Insiders own 0.18% of the company’s stock.

Costco Wholesale 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.