Surience Private Wealth LLC has significantly reduced its investment in **Costco Wholesale Corporation** (NASDAQ: COST) by **80.4%** during the third quarter of 2023. According to a recent filing with the **Securities and Exchange Commission (SEC)**, the firm now holds just **235 shares** of Costco after selling **965 shares** during the period. This reduction means Costco represents only **0.2%** of Surience’s portfolio, marking it as the firm’s **28th largest position**.
The valuation of Surience’s remaining holdings in Costco now stands at approximately **$218,000**. This decision follows a trend among institutional investors, with several hedge funds adjusting their stakes in the retail giant. Notably, **Bulwark Capital Corp** acquired a new position worth **$25,000** in the second quarter, while **LFA Lugano Financial Advisors SA** purchased shares valued at about **$31,000** during the same timeframe.
Other significant changes include **Anderson Financial Strategies LLC**, which increased its stake by an astonishing **900%**, now owning **40 shares** valued at **$38,000** after purchasing an additional **36 shares**. Additionally, **Financial Connections Group Inc.** raised its holdings by **975%**, acquiring **43 shares** worth **$42,000**. **Frazier Financial Advisors LLC** also enhanced its position in Costco by **72%**, bringing its total to **43 shares** valued at **$43,000**.
Institutional investors, including hedge funds, now control **68.48%** of Costco’s stock, reflecting a substantial level of institutional confidence in the company’s future.
Executive Sales and Insider Trading
In related news, **Russell D. Miller**, Executive Vice President of Costco, sold **3,381 shares** on **September 29** at an average price of **$915.00**, totaling approximately **$3.09 million**. Post-sale, Miller’s holdings decreased to **9,740 shares**, valued at **$8.91 million**, indicating a **25.77%** reduction in his position.
Similarly, **William Richard Wilcox**, another Executive Vice President, sold **2,400 shares** on **November 7** for an average price of **$930.13**, amounting to about **$2.23 million**. Following this transaction, his remaining shares total **2,000**, valued at **$1.86 million**, reflecting a **54.55%** decrease in his stake.
Over the past **90 days**, Costco insiders have sold a total of **9,720 shares** valued at approximately **$9.01 million**. Currently, insiders hold **0.10%** of the company’s stock.
Costco’s Recent Performance and Future Outlook
Costco’s stock recently experienced a decline of **0.2%**. The company last reported earnings on **December 11**, with earnings per share (**EPS**) of **$4.34** for the quarter, surpassing analyst expectations of **$4.27** by **$0.07**. The retailer achieved a net margin of **2.96%** and a return on equity of **29.35%**. Revenue reached **$67.31 billion**, exceeding estimates of **$67.03 billion** and marking an **8.3%** increase year-over-year.
Looking ahead, analysts project that Costco will report an **EPS** of **$18.03** for the current year, suggesting continued confidence in the retailer’s performance.
In addition, Costco announced a quarterly dividend of **$1.30**, paid on **November 14** to shareholders of record as of **October 31**. This dividend translates to an annualized payout of **$5.20** and a yield of **0.6%**, with a dividend payout ratio of **27.85%**.
Analyst Ratings and Price Targets
Recent reports from various equities analysts have led to new price targets for Costco shares. **Mizuho** lowered its target from **$975.00** to **$950.00**, maintaining a “neutral” rating. Conversely, **BMO Capital Markets** reiterated an “outperform” rating on the stock. Similarly, **Telsey Advisory Group** set a target price of **$1,100.00**, while **Gordon Haskett** reduced its target from **$1,150.00** to **$1,100.00**, also rating it as a “buy.”
**Morgan Stanley** adjusted its price objective from **$1,225.00** to **$1,130.00**, maintaining an “overweight” rating. Currently, **eighteen analysts** classify Costco as a “Buy”, **twelve** as “Hold”, and **one** as “Sell”. According to **MarketBeat.com**, Costco has an average rating of “Moderate Buy” with a price target of **$987.58**.
Costco Wholesale Corporation, operating globally, offers a membership-only warehouse model, selling a wide range of products in bulk at competitive prices. The company’s portfolio includes groceries, electronics, apparel, and seasonal items, supported by its private-label brand, **Kirkland Signature**. The business model relies on membership fees and high-volume sales, ensuring strong customer loyalty among both consumers and small business clients. Additionally, Costco provides various ancillary services such as gasoline stations, pharmacies, and travel products, enhancing its value proposition to members.
