Harmony Asset Management LLC Raises Position in Costco Wholesale Co. (NASDAQ:COST)

Harmony Asset Management LLC raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 27.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 543 shares of the retailer’s stock after acquiring an additional 117 shares during the quarter. Harmony Asset Management LLC’s holdings in Costco Wholesale were worth $481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in COST. RPg Family Wealth Advisory LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter valued at approximately $29,000. Financial Connections Group Inc. grew its holdings in Costco Wholesale by 557.1% during 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 during the period. Ruedi Wealth Management Inc. grew its holdings in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Costco Wholesale in the 3rd quarter worth approximately $58,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the completion of the sale, the executive vice president now directly owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This trade represents a 4.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 27.05 % decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on COST shares. BMO Capital Markets upped their price objective on Costco Wholesale from $980.00 to $1,075.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a research report on Thursday, August 8th. Evercore ISI lifted their target price on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a research note on Friday. Finally, StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $908.81.

Costco Wholesale Stock Performance

COST opened at $975.00 on Tuesday. The business’s 50-day moving average price is $907.62 and its two-hundred day moving average price is $872.68. Costco Wholesale Co. has a 1 year low of $591.46 and a 1 year high of $976.50. The company has a market capitalization 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. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the previous year, the company earned $4.86 EPS. Costco Wholesale’s quarterly 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 company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

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.