Trueblood Wealth Management LLC Sells 109 Shares of Costco Wholesale Co. (NASDAQ:COST)

Trueblood Wealth Management LLC trimmed its position in Costco Wholesale Co. (NASDAQ:COST) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,324 shares of the retailer’s stock after selling 109 shares during the period. Trueblood Wealth Management LLC’s holdings in Costco Wholesale were worth $1,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of COST. Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale during the 1st quarter worth approximately $32,000. Financial Connections Group Inc. lifted its position in shares of Costco Wholesale by 557.1% in the second 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 acquired a new position in Costco Wholesale during the second quarter worth $48,000. Ruedi Wealth Management Inc. grew its position in Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after purchasing an additional 25 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Costco Wholesale in the 2nd quarter valued at $50,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Oppenheimer raised their price objective on Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price target on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Wells Fargo & Company increased their price objective on Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Tigress Financial restated a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $894.57.

Costco Wholesale Trading Down 0.2 %

Shares of COST stock opened at $891.22 on Friday. The stock has a market cap of $394.87 billion, a P/E ratio of 53.79, a price-to-earnings-growth ratio of 5.50 and a beta of 0.80. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. 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 50 day simple moving average of $891.76 and a 200 day simple moving average of $839.41.

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 firm had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same period in the prior year, the company posted $4.86 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company 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 $1.16 dividend. 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 dividend payout ratio is currently 28.00%.

Insider Activity

In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction that occurred 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 approximately $20,560,344. This trade represents 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 related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the sale, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at $20,560,344. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,636 shares of company stock worth $11,238,510. 0.18% of the stock is currently owned by corporate insiders.

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.