Cardinal Point Capital Management ULC Makes New $235,000 Investment in Costco Wholesale Co. (NASDAQ:COST)

Cardinal Point Capital Management ULC acquired a new position in Costco Wholesale Co. (NASDAQ:COST) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 265 shares of the retailer’s stock, valued at approximately $235,000.

A number of other large investors have also added to or reduced their stakes in COST. Vanguard Group Inc. increased its position 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 during the last quarter. Capital World Investors increased its position in shares of Costco Wholesale by 8.1% during 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 last quarter. Legal & General Group Plc increased its position in shares of Costco Wholesale by 2.5% during the 2nd 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 during the last quarter. Fisher Asset Management LLC increased its position in shares of Costco Wholesale by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,790,935 shares of the retailer’s stock valued at $1,842,241,000 after purchasing an additional 81,853 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Costco Wholesale by 28.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock valued at $1,307,363,000 after purchasing an additional 338,780 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on COST shares. Loop Capital boosted their target price on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a report on Thursday, August 8th. The Goldman Sachs Group boosted their price objective on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Tigress Financial boosted their price objective on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a report on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $883.04.

Insider Transactions at Costco Wholesale

In other news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now owns 5,920 shares in the company, valued at $5,041,057.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now owns 5,920 shares in the company, valued at $5,041,057.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,174 shares of company stock worth $7,097,624 over the last quarter. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Stock Down 1.1 %

Shares of COST stock opened at $873.59 on Tuesday. The stock’s 50-day simple moving average is $875.41 and its 200-day simple moving average is $822.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The firm has a market capitalization of $387.29 billion, a PE ratio of 54.13, a P/E/G ratio of 5.34 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the prior year, the business earned $4.86 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that Costco Wholesale Co. will post 17.73 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

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.