Covenant Partners LLC Buys 125 Shares of Costco Wholesale Co. (NASDAQ:COST)

Covenant Partners LLC grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 29.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 545 shares of the retailer’s stock after purchasing an additional 125 shares during the quarter. Covenant Partners LLC’s holdings in Costco Wholesale were worth $483,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. First Bank & Trust raised its stake in shares of Costco Wholesale by 0.7% in the third quarter. First Bank & Trust now owns 4,162 shares of the retailer’s stock valued at $3,690,000 after buying an additional 30 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Costco Wholesale by 6.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 122,992 shares of the retailer’s stock valued at $109,034,000 after buying an additional 7,684 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of Costco Wholesale by 75,894.4% in the third quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer’s stock valued at $300,473,000 after buying an additional 338,489 shares during the period. Horizon Bancorp Inc. IN raised its stake in shares of Costco Wholesale by 2.5% in the third quarter. Horizon Bancorp Inc. IN now owns 606 shares of the retailer’s stock valued at $537,000 after buying an additional 15 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its position in shares of Costco Wholesale by 2.5% in the third quarter. NorthCrest Asset Manangement LLC now owns 42,786 shares of the retailer’s stock valued at $37,931,000 after purchasing an additional 1,038 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COST has been the subject of several recent research reports. Barclays lifted their price target on Costco Wholesale from $830.00 to $850.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Redburn Atlantic cut Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price target for the company from $860.00 to $890.00 in a research report on Tuesday, September 10th. DA Davidson reiterated a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a research report on Thursday, October 10th. Bank of America lifted their price target on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, TD Cowen lifted their price target on Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and an average target price of $894.57.

Costco Wholesale Trading Down 0.2 %

Shares of COST stock opened at $891.22 on Monday. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $891.76 and a two-hundred day moving average price of $840.23. The firm has a market cap of $395.11 billion, a P/E ratio of 55.22, a price-to-earnings-growth ratio of 5.50 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last released 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. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same quarter in the previous year, the company posted $4.86 EPS. Costco Wholesale’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business 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 $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Insider Activity

In other news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at $9,091,512.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,636 shares of company stock valued at $11,238,510. Insiders own 0.18% of the company’s stock.

Costco Wholesale Company 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.