Costco Wholesale Co. (NASDAQ:COST) Shares Bought by Bank of Montreal Can

Bank of Montreal Can boosted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,873,555 shares of the retailer’s stock after purchasing an additional 49,280 shares during the period. Costco Wholesale makes up approximately 0.7% of Bank of Montreal Can’s portfolio, making the stock its 25th biggest holding. Bank of Montreal Can owned approximately 0.42% of Costco Wholesale worth $1,659,257,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Financial Connections Group Inc. lifted its stake 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 acquiring an additional 39 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of Costco Wholesale during the second quarter worth approximately $48,000. Ruedi Wealth Management Inc. raised its holdings 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 acquiring an additional 25 shares in the last quarter. Summit Securities Group LLC bought a new position in Costco Wholesale during the 2nd quarter valued at $50,000. Finally, Fairway Wealth LLC increased its position in shares of Costco Wholesale by 230.0% in the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after purchasing an additional 46 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a research report on Monday, November 4th. Wells Fargo & Company raised their price target on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. 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. Oppenheimer upped their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $908.81.

Costco Wholesale Price Performance

Costco Wholesale stock traded down $7.61 during trading hours on Monday, reaching $956.40. 354,610 shares of the stock were exchanged, compared to its average volume of 1,921,238. The stock has a 50 day moving average of $901.18 and a two-hundred day moving average of $866.19. The company has a market cap of $423.76 billion, a P/E ratio of 58.54, a price-to-earnings-growth ratio of 5.95 and a beta of 0.80. Costco Wholesale Co. has a twelve month low of $582.83 and a twelve month high of $976.30. 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 (NASDAQ:COST) last issued its quarterly earnings data 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. 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 the consensus estimate of $79.91 billion. During the same period last year, the company earned $4.86 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.49%. Costco Wholesale’s payout ratio is currently 28.00%.

Insider Transactions at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now directly owns 10,210 shares in the company, valued at $9,155,409.10. This trade represents a 16.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,016 shares of company stock worth $9,826,115 in the last quarter. 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.