Balefire LLC Acquires 700 Shares of Costco Wholesale Corporation $COST

Key Points

• Balefire LLC increased its stake in Costco by 152.5% in Q2, acquiring an additional 700 shares, bringing their total ownership to 1,159 shares valued at approximately $1.15 million.
• Notable insider selling includes EVP Yoram Rubanenko, who sold 4,000 shares for about $3.9 million, reducing his stake by 40.92%.
• Analysts have varied opinions on Costco, with Erste Group downgrading it from "buy" to "hold," while Morgan Stanley increased the target price from $1,150 to $1,225 and maintained an "overweight" rating.

Balefire LLC lifted its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 152.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,159 shares of the retailer's stock after purchasing an additional 700 shares during the period. Balefire LLC's holdings in Costco Wholesale were worth $1,147,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Corps Capital Advisors LLC increased its holdings in Costco Wholesale by 0.7% during the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after purchasing an additional 10 shares during the period. Covestor Ltd raised its holdings in shares of Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock valued at $119,000 after acquiring an additional 10 shares in the last quarter. Rooted Wealth Advisors Inc. lifted its stake in Costco Wholesale by 2.6% in the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock worth $404,000 after acquiring an additional 11 shares during the period. Bank & Trust Co grew its holdings in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after acquiring an additional 11 shares in the last quarter. Finally, Amplius Wealth Advisors LLC increased its position in Costco Wholesale by 1.3% during the 1st quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer's stock valued at $819,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 68.48% of the company's stock.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on COST shares. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley raised their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Evercore ISI reduced their price target on 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. Truist Financial increased their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research note on Wednesday, August 27th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,056.67.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $952.07 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The stock has a market capitalization of $422.22 billion, a price-to-earnings ratio of 54.00, a PEG ratio of 5.40 and a beta of 0.97. The firm's 50 day simple moving average is $959.09 and its 200-day simple moving average is $973.54. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio is presently 29.50%.

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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