Belpointe Asset Management LLC Has $8.08 Million Position in Costco Wholesale Corporation $COST

Key Points

• Belpointe Asset Management LLC increased its stake in Costco Wholesale Corporation by 9.0%, owning 8,166 shares valued at approximately $8.08 million as of the latest SEC filing.
• Wall Street analysts have mixed ratings on Costco, with price targets changing from $1,418.00 by Goldman Sachs to $947.00 by Daiwa Capital Markets, with an overall average target of $1,067.19.
• Costco reported a quarterly EPS of $5.87, exceeding analyst expectations, and announced a quarterly dividend of $1.30, translating to an annual yield of 0.6%.

Belpointe Asset Management LLC lifted its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,166 shares of the retailer's stock after acquiring an additional 673 shares during the period. Belpointe Asset Management LLC's holdings in Costco Wholesale were worth $8,084,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Bulwark Capital Corp bought a new stake in shares of Costco Wholesale during the 2nd quarter worth $25,000. Anderson Financial Strategies LLC raised its stake in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after acquiring an additional 36 shares in the last quarter. eCIO Inc. acquired a new position in Costco Wholesale during the first quarter worth about $48,000. Aspect Partners LLC lifted its holdings in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at approximately $61,000. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Evercore ISI dropped their price target on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a research note on Friday, September 26th. Truist Financial cut their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a report on Friday, September 26th. JPMorgan Chase & Co. lowered their target price on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating for the company in a report on Friday, September 26th. Finally, Daiwa Capital Markets dropped their target price on Costco Wholesale from $1,005.00 to $947.00 and set a "neutral" rating for the company in a research report on Tuesday, September 30th. Nineteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,067.19.

Insider Activity

In other news, EVP Russell D. Miller sold 3,381 shares of the business's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,981 shares of company stock worth $7,588,685 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Trading Down 0.2%

NASDAQ:COST opened at $915.38 on Monday. Costco Wholesale Corporation has a 12 month low of $867.34 and a 12 month high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $405.95 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 5.55 and a beta of 0.98. The firm has a fifty day simple moving average of $953.54 and a two-hundred day simple moving average of $972.15.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.81 by $0.06. The company had revenue of $86.16 billion for the quarter, compared to analysts' expectations of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.15 EPS. Analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 28.56%.

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.

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