Integrated Wealth Concepts LLC Raises Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Integrated Wealth Concepts LLC lifted its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.7% in the third quarter, Holdings Channel.com reports. The fund owned 18,977 shares of the retailer’s stock after purchasing an additional 324 shares during the period. Integrated Wealth Concepts LLC’s holdings in Costco Wholesale were worth $16,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Costco Wholesale in the 3rd quarter worth $29,000. Financial Connections Group Inc. boosted its stake in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares in the last quarter. Ruedi Wealth Management Inc. lifted 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 worth $50,000 after buying an additional 25 shares during the period. Summit Securities Group LLC purchased a new position in Costco Wholesale in the second quarter valued at $50,000. Finally, Fairway Wealth LLC boosted its position in Costco Wholesale by 230.0% during the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the transaction, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. The trade was a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction 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 represents a 30.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,016 shares of company stock worth $9,826,115. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.3 %

Shares of Costco Wholesale stock opened at $975.00 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The stock has a 50-day simple moving average of $907.62 and a 200-day simple moving average of $872.68. The firm has a market cap of $431.99 billion, a price-to-earnings ratio of 58.84, a P/E/G ratio of 6.00 and a beta of 0.82. Costco Wholesale Co. has a 52-week low of $591.46 and a 52-week high of $976.50.

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, beating the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same quarter in the prior year, the firm posted $4.86 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.48%. Costco Wholesale’s payout ratio is presently 28.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on COST shares. The Goldman Sachs Group upped their target price on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Loop Capital increased their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. DA Davidson reiterated a “neutral” rating and issued a $880.00 target price on shares of Costco Wholesale in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Evercore ISI lifted their price target on Costco Wholesale from $985.00 to $990.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $908.81.

About Costco Wholesale

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.