Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Bruderman Asset Management LLC

Bruderman Asset Management LLC trimmed its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,323 shares of the retailer’s stock after selling 788 shares during the quarter. Costco Wholesale makes up 2.5% of Bruderman Asset Management LLC’s holdings, making the stock its 11th largest holding. Bruderman Asset Management LLC’s holdings in Costco Wholesale were worth $7,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Costco Wholesale by 4.8% during the second quarter. FMR LLC now owns 12,077,579 shares of the retailer’s stock valued at $3,662,043,000 after buying an additional 551,799 shares in the last quarter. Morgan Stanley boosted its position in Costco Wholesale by 3.5% during the first quarter. Morgan Stanley now owns 3,366,481 shares of the retailer’s stock valued at $959,885,000 after purchasing an additional 115,213 shares during the last quarter. Fisher Asset Management LLC boosted its position in Costco Wholesale by 6.7% during the second quarter. Fisher Asset Management LLC now owns 3,282,895 shares of the retailer’s stock valued at $995,407,000 after purchasing an additional 206,856 shares during the last quarter. Clearbridge Investments LLC boosted its position in Costco Wholesale by 0.6% during the first quarter. Clearbridge Investments LLC now owns 2,190,524 shares of the retailer’s stock valued at $624,584,000 after purchasing an additional 13,475 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Costco Wholesale by 0.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,086,280 shares of the retailer’s stock valued at $632,582,000 after purchasing an additional 11,195 shares during the last quarter. Institutional investors and hedge funds own 68.20% of the company’s stock.

Shares of COST opened at $381.54 on Friday. The company has a market capitalization of $168.35 billion, a P/E ratio of 42.30, a PEG ratio of 4.70 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.13 and a quick ratio of 0.64. Costco Wholesale Co. has a one year low of $271.28 and a one year high of $384.87. The business’s 50 day simple moving average is $351.05 and its 200-day simple moving average is $322.70.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 24th. The retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $52.03 billion. Costco Wholesale had a return on equity of 22.71% and a net margin of 2.40%. Costco Wholesale’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 EPS. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 9.56 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Thursday, October 29th. Costco Wholesale’s payout ratio is currently 31.64%.

In other Costco Wholesale news, EVP James C. Klauer sold 4,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $342.72, for a total transaction of $1,370,880.00. Following the transaction, the executive vice president now owns 49,402 shares of the company’s stock, valued at approximately $16,931,053.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan L. Decker sold 1,250 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $335.84, for a total value of $419,800.00. Following the transaction, the director now directly owns 25,497 shares in the company, valued at approximately $8,562,912.48. The disclosure for this sale can be found here. Insiders sold a total of 15,804 shares of company stock worth $5,460,267 over the last three months. 0.22% of the stock is owned by company insiders.

COST has been the subject of a number of research reports. Loop Capital lifted their price objective on Costco Wholesale from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft boosted their price target on Costco Wholesale from $305.00 to $310.00 and gave the stock a “hold” rating in a research report on Thursday, October 8th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $347.00 price target (up previously from $338.00) on shares of Costco Wholesale in a research report on Friday, September 25th. BMO Capital Markets boosted their price target on Costco Wholesale from $340.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, September 25th. Finally, Morgan Stanley lifted their price objective on Costco Wholesale from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, September 25th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Costco Wholesale currently has an average rating of “Buy” and a consensus target price of $368.54.

About Costco Wholesale

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.

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

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