Schmidt P J Investment Management Inc. Sells 150 Shares of Costco Wholesale Co. (NASDAQ:COST)

Schmidt P J Investment Management Inc. reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,381 shares of the retailer’s stock after selling 150 shares during the quarter. Costco Wholesale comprises about 1.1% of Schmidt P J Investment Management Inc.’s investment portfolio, making the stock its 29th biggest position. Schmidt P J Investment Management Inc.’s holdings in Costco Wholesale were worth $6,543,000 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 added to or reduced their stakes in the stock. Fermata Advisors LLC grew its stake in Costco Wholesale by 0.6% during the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after purchasing an additional 11 shares in the last quarter. Oak Asset Management LLC grew its position in shares of Costco Wholesale by 0.3% during the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after buying an additional 12 shares in the last quarter. Peddock Capital Advisors LLC increased its stake in shares of 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 during the period. Perkins Coie Trust Co increased its stake in shares of Costco Wholesale by 0.3% during the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after buying an additional 12 shares during the period. Finally, Firethorn Wealth Partners LLC raised its holdings in Costco Wholesale by 3.5% in the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after acquiring an additional 12 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the 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 approximately $10,320,787.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Russell D. Miller sold 4,400 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at $9,091,512.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan L. Decker sold 620 shares of Costco Wholesale 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 transaction, the director now directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock worth $11,238,510 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Performance

Shares of COST opened at $891.22 on Friday. The stock has a market capitalization of $394.87 billion, a P/E ratio of 53.79, a P/E/G ratio of 5.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The company’s fifty day moving average is $891.35 and its two-hundred day moving average is $837.33.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.86 earnings per share. On average, sell-side analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Loop Capital boosted their price target on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Wells Fargo & Company boosted their target price on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. TD Cowen lifted their price target on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Truist Financial lowered Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price on the stock. in a research report on Tuesday, September 24th. Finally, Melius Research assumed coverage on Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 price target for the company. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $894.57.

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.