Logan Capital Management Inc. Sells 60 Shares of Costco Wholesale Co. (NASDAQ:COST)

Logan Capital Management Inc. reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,858 shares of the retailer’s stock after selling 60 shares during the period. Logan Capital Management Inc.’s holdings in Costco Wholesale were worth $2,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of COST. RPg Family Wealth Advisory LLC acquired a new stake in shares of Costco Wholesale during the third quarter worth approximately $29,000. Financial Connections Group Inc. increased its holdings in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Summit Securities Group LLC bought a new position in Costco Wholesale in the 2nd quarter valued at $50,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Costco Wholesale in the third quarter worth $58,000. Finally, Fairway Wealth LLC grew its holdings in shares of 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 purchasing an additional 46 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the sale, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the transaction, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,016 shares of company stock valued at $9,826,115 in the last three months. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

COST has been the subject of a number of research analyst reports. DA Davidson lifted their price target on Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a report on Friday. Oppenheimer restated an “outperform” rating and issued a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a research report on Tuesday. Roth Mkm boosted their price objective on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a report on Friday. TD Cowen raised their target price on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday. Finally, Morgan Stanley boosted their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $988.46.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $989.35 on Friday. 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 firm has a market cap of $438.35 billion, a price-to-earnings ratio of 59.71, a price-to-earnings-growth ratio of 6.05 and a beta of 0.82. Costco Wholesale Co. has a one year low of $630.30 and a one year high of $1,007.80. The stock’s 50-day moving average is $926.84 and its 200-day moving average is $884.70.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share 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 firm had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the prior year, the firm posted $4.86 EPS. The business’s revenue was up 1.0% on a year-over-year basis. Equities analysts predict that Costco Wholesale Co. will post 17.77 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $1.16 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 annualized dividend and a yield of 0.47%. Costco Wholesale’s payout ratio is currently 28.00%.

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.