Massachusetts Financial Services Co. MA cut its position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 12.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,869 shares of the retailer's stock after selling 30,371 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Costco Wholesale were worth $182,507,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Financial Connections Group Inc. grew its position in shares of 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 buying an additional 39 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth approximately $48,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer's stock worth $50,000 after purchasing an additional 25 shares during the last quarter. Summit Securities Group LLC bought a new position in Costco Wholesale during the 2nd quarter worth $50,000. Finally, Fairway Wealth LLC grew its stake in Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer's stock worth $56,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.
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 transaction of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares of the company's stock, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 10,202 shares of the company's stock, valued at approximately $9,091,512.30. The trade was a 30.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,016 shares of company stock valued at $9,826,115. Company insiders own 0.18% of the company's stock.
Shares of COST opened at $964.01 on Friday. 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 Co. has a 1-year low of $582.83 and a 1-year high of $976.30. The stock has a market capitalization of $427.12 billion, a P/E ratio of 58.18, a P/E/G ratio of 5.90 and a beta of 0.80. The business's 50-day moving average price is $901.18 and its 200 day moving average price is $864.82.
Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly 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 business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. During the same quarter in the previous year, the business earned $4.86 earnings per share. The firm's revenue was up 1.0% compared to the same quarter last year. Analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $1.16 per share. 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 is 28.00%.
COST has been the subject of several analyst reports. Wells Fargo & Company boosted their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an "equal weight" rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Evercore ISI lifted their price target on Costco Wholesale from $985.00 to $990.00 and gave the company an "outperform" rating in a report on Thursday, October 10th. Truist Financial lowered Costco Wholesale from a "buy" rating to a "hold" rating and set a $873.00 price objective for the company. in a report on Tuesday, September 24th. Finally, Redburn Atlantic downgraded Costco Wholesale from a "buy" rating to a "neutral" rating and lifted their target price for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale has an average rating of "Moderate Buy" and a consensus target price of $908.81.
Check Out Our Latest Stock Report on 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.
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