Mainsail Financial Group LLC Cuts Stake in Costco Wholesale Co. (NASDAQ:COST)

Mainsail Financial Group LLC lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 24.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,038 shares of the retailer’s stock after selling 980 shares during the period. Costco Wholesale makes up approximately 1.6% of Mainsail Financial Group LLC’s portfolio, making the stock its 21st largest position. Mainsail Financial Group LLC’s holdings in Costco Wholesale were worth $2,762,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fermata Advisors LLC boosted its stake in Costco Wholesale by 0.6% during the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after acquiring an additional 11 shares during the last quarter. Oak Asset Management LLC increased its position in shares of Costco Wholesale by 0.3% in the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after purchasing an additional 12 shares during the last quarter. Peddock Capital Advisors LLC raised its stake in shares of Costco Wholesale by 0.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares in the last quarter. Perkins Coie Trust Co grew its stake in Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after purchasing an additional 12 shares in the last quarter. Finally, Firethorn Wealth Partners LLC increased its holdings in Costco Wholesale by 3.5% in the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the topic of a number of research analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $880.00 target price on shares of Costco Wholesale in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Tigress Financial reiterated a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research note on Thursday, October 17th. Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a research report on Tuesday. They issued an “outperform” rating and a $1,016.00 price target on the stock. Finally, TD Cowen boosted their price objective on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus target price of $894.57.

Insider Activity at Costco Wholesale

In other news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction dated 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 directly owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Costco Wholesale news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares in the company, valued at $9,091,512.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the transaction, the executive vice president now owns 10,210 shares in the company, valued at approximately $9,155,409.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,220 shares of company stock valued at $9,971,643. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $899.17 on Thursday. The stock has a market cap of $398.63 billion, a PE ratio of 55.71, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $891.03 and a 200-day simple moving average of $836.93.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.10. The company had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.86 EPS. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Costco Wholesale 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.