Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Spire Wealth Management

04 Feb 2024, 09:34 by Renee Jackson · The Cerbat Gem

Spire Wealth Management reduced its stake in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 18.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,224 shares of the retailer’s stock after selling 6,756 shares during the period. Costco Wholesale makes up approximately 0.6% of Spire Wealth Management’s portfolio, making the stock its 29th biggest position. Spire Wealth Management’s holdings in Costco Wholesale were worth $17,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of COST. Sanctuary Wealth Management L.L.C. purchased a new stake in Costco Wholesale during the fourth quarter worth about $26,000. Horizon Bancorp Inc. IN purchased a new stake in Costco Wholesale during the second quarter worth about $38,000. Steph & Co. increased its stake in Costco Wholesale by 42.3% during the third quarter. Steph & Co. now owns 74 shares of the retailer’s stock worth $42,000 after purchasing an additional 22 shares during the period. Focused Wealth Management Inc increased its stake in Costco Wholesale by 101.5% during the second quarter. Focused Wealth Management Inc now owns 90 shares of the retailer’s stock worth $48,000 after purchasing an additional 6,000 shares during the period. Finally, Iron Horse Wealth Management LLC increased its stake in Costco Wholesale by 888.9% during the third quarter. Iron Horse Wealth Management LLC now owns 89 shares of the retailer’s stock worth $50,000 after purchasing an additional 80 shares during the period. 66.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. UBS Group boosted their price objective on Costco Wholesale from $640.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Tigress Financial boosted their price objective on Costco Wholesale from $635.00 to $745.00 and gave the stock a “buy” rating in a research report on Friday, December 29th. Truist Financial boosted their price objective on Costco Wholesale from $693.00 to $741.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Evercore ISI boosted their price objective on Costco Wholesale from $640.00 to $650.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Finally, Loop Capital boosted their price objective on Costco Wholesale from $710.00 to $755.00 in a research report on Friday, January 19th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $641.67.

View Our Latest Analysis on COST

Costco Wholesale Price Performance

COST stock opened at $709.48 on Friday. The company has a market capitalization of $314.82 billion, a P/E ratio of 48.36, a PEG ratio of 5.12 and a beta of 0.77. Costco Wholesale Co. has a twelve month low of $465.33 and a twelve month high of $714.28. The business has a 50 day simple moving average of $657.27 and a 200-day simple moving average of $594.22. The company has a current ratio of 1.09, a quick ratio of 0.60 and a debt-to-equity ratio of 0.22.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its quarterly earnings results on Thursday, December 14th. The retailer reported $3.48 EPS for the quarter, topping the consensus estimate of $3.41 by $0.07. Costco Wholesale had a return on equity of 27.44% and a net margin of 2.65%. The business had revenue of $57.80 billion during the quarter, compared to analysts’ expectations of $57.79 billion. During the same quarter in the prior year, the business earned $3.10 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that Costco Wholesale Co. will post 15.6 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Friday, February 2nd will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, February 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.81%.

Insider Transactions at Costco Wholesale

In other news, VP Yoram Rubanenko sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $680.33, for a total transaction of $1,700,825.00. Following the completion of the sale, the vice president now owns 5,910 shares in the company, valued at $4,020,750.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Yoram Rubanenko sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $680.33, for a total transaction of $1,700,825.00. Following the completion of the sale, the vice president now owns 5,910 shares in the company, valued at $4,020,750.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Pierre Riel sold 3,000 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $571.12, for a total value of $1,713,360.00. Following the completion of the transaction, the executive vice president now owns 7,422 shares of the company’s stock, valued at approximately $4,238,852.64. The disclosure for this sale can be found here. Insiders sold 18,752 shares of company stock worth $12,223,209 over the last 90 days. 0.18% of the stock is currently owned by insiders.

About Costco Wholesale

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