Worldly Partners Management LLC Has $80.16 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Worldly Partners Management LLC boosted its position in Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 90,416 shares of the retailer’s stock after acquiring an additional 622 shares during the period. Costco Wholesale accounts for approximately 38.1% of Worldly Partners Management LLC’s portfolio, making the stock its 2nd largest holding. Worldly Partners Management LLC’s holdings in Costco Wholesale were worth $80,156,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keynote Financial Services LLC purchased a new position in shares of Costco Wholesale in the first quarter valued at $201,000. HM Payson & Co. boosted its position in shares of Costco Wholesale by 3.6% in the first quarter. HM Payson & Co. now owns 2,717 shares of the retailer’s stock valued at $1,990,000 after acquiring an additional 95 shares during the period. Confluence Investment Management LLC purchased a new position in Costco Wholesale during the second quarter valued at approximately $210,000. Cullen Investment Group LTD. bought a new stake in Costco Wholesale during the 2nd quarter worth approximately $219,000. Finally, Transcend Capital Advisors LLC lifted its stake in Costco Wholesale by 2.2% in the 2nd quarter. Transcend Capital Advisors LLC now owns 3,568 shares of the retailer’s stock worth $3,033,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 1.1 %

NASDAQ:COST opened at $971.88 on Friday. The firm has a market capitalization of $430.61 billion, a P/E ratio of 58.65, a P/E/G ratio of 5.93 and a beta of 0.80. 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 company has a fifty day moving average of $907.62 and a 200 day moving average of $871.42. Costco Wholesale Co. has a 52 week low of $582.83 and a 52 week high of $976.30.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data 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. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.86 earnings per share. On average, research analysts predict that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $1.16 dividend. The ex-dividend date of this dividend 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 currently 28.00%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. The Goldman Sachs Group raised their price target on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Sanford C. Bernstein started coverage on Costco Wholesale in a report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective for the company. Truist Financial downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price on the stock. in a research note on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $908.81.

Insider Activity

In related news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the sale, the executive vice president now owns 10,210 shares in the company, valued at $9,155,409.10. The trade was a 16.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Claudine Adamo sold 3,200 shares of the company’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 completion of the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,016 shares of company stock valued at $9,826,115. Company insiders own 0.18% of the company’s stock.

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.