Avaii Wealth Management LLC Takes $278,000 Position in Costco Wholesale Corporation $COST

Key Points

• Avaii Wealth Management LLC has taken a new position in Costco Wholesale, purchasing 281 shares valued at approximately $278,000 during the second quarter of 2023.
• Costco has recently announced a quarterly dividend of $1.30 per share, corresponding to an annualized dividend yield of 0.6%, with a payout ratio currently at 29.50%.
• Institutional investors and hedge funds collectively own 68.48% of Costco's stock, indicating strong interest from large investment firms.

Avaii Wealth Management LLC bought a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 281 shares of the retailer's stock, valued at approximately $278,000.

A number of other large investors also recently bought and sold shares of the stock. Bulwark Capital Corp purchased a new stake in Costco Wholesale during the second quarter worth about $25,000. Anderson Financial Strategies LLC increased its stake in Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after buying an additional 36 shares during the period. eCIO Inc. acquired a new stake in Costco Wholesale during the 1st quarter worth approximately $48,000. Aspect Partners LLC boosted its position in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale in the fourth quarter worth $59,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $945.27 on Thursday. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The company has a 50-day moving average price of $956.61 and a 200 day moving average price of $970.80. The company has a market cap of $419.21 billion, a P/E ratio of 53.62, a PEG ratio of 5.30 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's payout ratio is presently 29.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on COST shares. Loop Capital decreased their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Truist Financial upped their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday. Finally, Evercore ISI lowered their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,061.30.

Insiders Place Their Bets

In other news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.

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