Signet Investment Advisory Group Inc. Reduces Stake in Costco Wholesale Co. (NASDAQ:COST)

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Signet Investment Advisory Group Inc. lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 4.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,330 shares of the retailer’s stock after selling 165 shares during the quarter. Signet Investment Advisory Group Inc.’s holdings in Costco Wholesale were worth $959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new position in Costco Wholesale during the 2nd quarter worth approximately $26,000. Massey Quick Simon & CO. LLC purchased a new position in Costco Wholesale during the 2nd quarter worth approximately $27,000. Horan Capital Advisors LLC. purchased a new position in Costco Wholesale during the 3rd quarter worth approximately $31,000. Cerebellum GP LLC purchased a new position in Costco Wholesale during the 3rd quarter worth approximately $32,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Costco Wholesale by 164.3% during the 3rd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 111 shares of the retailer’s stock worth $32,000 after buying an additional 69 shares during the last quarter. Institutional investors and hedge funds own 71.14% of the company’s stock.

A number of research firms recently issued reports on COST. Gordon Haskett upgraded Costco Wholesale from a “hold” rating to an “accumulate” rating and raised their price target for the stock from $255.00 to $330.00 in a research note on Friday, September 20th. ValuEngine downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Robert W. Baird set a $325.00 price target on Costco Wholesale and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays set a $275.00 price target on Costco Wholesale and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, UBS Group raised their price target on Costco Wholesale from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $295.57.

In related news, Director Susan L. Decker sold 333 shares of Costco Wholesale stock in a transaction on Friday, October 11th. The stock was sold at an average price of $297.50, for a total transaction of $99,067.50. Following the completion of the transaction, the director now directly owns 41,470 shares of the company’s stock, valued at $12,337,325. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Richard A. Galanti sold 1,984 shares of Costco Wholesale stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $302.80, for a total value of $600,755.20. Following the transaction, the chief financial officer now directly owns 26,165 shares of the company’s stock, valued at $7,922,762. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,077 shares of company stock valued at $10,516,266. 0.21% of the stock is currently owned by insiders.

COST stock traded up $2.40 during midday trading on Wednesday, hitting $302.90. 1,554,800 shares of the stock were exchanged, compared to its average volume of 1,973,281. The stock’s 50-day moving average price is $296.01 and its 200-day moving average price is $274.92. The stock has a market cap of $133.05 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 4.13 and a beta of 0.93. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $307.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 1.01.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, October 3rd. The retailer reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.15. The firm had revenue of $47.50 billion during the quarter, compared to analysts’ expectations of $47.71 billion. Costco Wholesale had a return on equity of 25.00% and a net margin of 2.40%. Costco Wholesale’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.36 earnings per share. Research analysts anticipate that Costco Wholesale Co. will post 8.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.60 annualized dividend and a yield of 0.86%. Costco Wholesale’s dividend payout ratio is presently 31.75%.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

Read More: Stock Symbols and CUSIP Explained

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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