Biltmore Wealth Management LLC Reduces Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Biltmore Wealth Management LLC decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 21.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,122 shares of the retailer’s stock after selling 312 shares during the quarter. Costco Wholesale makes up 0.4% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position. Biltmore Wealth Management LLC’s holdings in Costco Wholesale were worth $995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of COST. Vanguard Group Inc. boosted its stake in shares of Costco Wholesale by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after purchasing an additional 473,702 shares in the last quarter. Capital World Investors lifted its stake in shares of Costco Wholesale by 8.1% in the 1st quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock valued at $2,802,147,000 after purchasing an additional 285,533 shares during the period. Legal & General Group Plc boosted its position in shares of Costco Wholesale by 2.5% during the second quarter. Legal & General Group Plc now owns 3,650,562 shares of the retailer’s stock valued at $3,102,941,000 after purchasing an additional 88,550 shares in the last quarter. Fisher Asset Management LLC grew its stake in Costco Wholesale by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,790,935 shares of the retailer’s stock worth $1,842,241,000 after purchasing an additional 81,853 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Costco Wholesale by 28.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock worth $1,307,363,000 after purchasing an additional 338,780 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Price Performance

NASDAQ:COST traded up $7.44 during trading hours on Friday, hitting $883.11. 1,517,311 shares of the stock traded hands, compared to its average volume of 1,961,015. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The stock has a 50 day moving average price of $875.41 and a 200 day moving average price of $821.29. The company has a market cap of $391.51 billion, a price-to-earnings ratio of 54.72, a price-to-earnings-growth ratio of 5.38 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.30%. The business had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. During the same quarter in the previous year, the company earned $4.86 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that Costco Wholesale Co. will post 17.74 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Analyst Ratings Changes

COST has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Robert W. Baird lifted their price target on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Roth Mkm raised their price objective on shares of Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. DA Davidson upped their target price on shares of Costco Wholesale from $780.00 to $880.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Finally, Loop Capital increased their price target on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a report on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $883.04.

Insider Buying and Selling at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,174 shares of company stock worth $7,097,624 over the last 90 days. 0.18% of the stock is owned by insiders.

Costco Wholesale Company 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.