Bennett Selby Investments LP Has $1.91 Million Stock Position in Costco Wholesale Corporation $COST

Key Points

• Bennett Selby Investments LP increased its stake in Costco Wholesale by 73.6% in Q2, holding 1,925 shares valued at approximately $1.91 million.
• Several hedge funds also bought or expanded their positions in Costco, with institutional investors owning 68.48% of the company's stock.
• Costco reported Q2 earnings of $5.87 per share, exceeding estimates, alongside revenue growth of 8.1% year-over-year, reaching $86.16 billion.

Bennett Selby Investments LP lifted its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 73.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,925 shares of the retailer's stock after acquiring an additional 816 shares during the quarter. Costco Wholesale makes up approximately 0.7% of Bennett Selby Investments LP's investment portfolio, making the stock its 27th largest position. Bennett Selby Investments LP's holdings in Costco Wholesale were worth $1,905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Presper Financial Architects LLC bought a new position in Costco Wholesale during the second quarter worth about $262,000. Raleigh Capital Management Inc. grew its holdings in Costco Wholesale by 30.5% during the second quarter. Raleigh Capital Management Inc. now owns 441 shares of the retailer's stock worth $437,000 after purchasing an additional 103 shares during the period. Spartan Planning & Wealth Management grew its holdings in Costco Wholesale by 126.6% during the second quarter. Spartan Planning & Wealth Management now owns 868 shares of the retailer's stock worth $859,000 after purchasing an additional 485 shares during the period. LexAurum Advisors LLC grew its holdings in Costco Wholesale by 4.5% during the second quarter. LexAurum Advisors LLC now owns 1,607 shares of the retailer's stock worth $1,591,000 after purchasing an additional 69 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in Costco Wholesale by 1.3% during the second quarter. Janney Montgomery Scott LLC now owns 120,098 shares of the retailer's stock worth $118,890,000 after purchasing an additional 1,539 shares during the period. Institutional investors own 68.48% of the company's stock.

Insider Buying and Selling

In other news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on COST. Roth Capital set a $907.00 price target on Costco Wholesale and gave the stock a "neutral" rating in a report on Friday. Evercore ISI reduced their price target on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a report on Friday. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley reduced their price objective on Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating for the company in a report on Friday. Finally, Truist Financial reduced their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating for the company in a report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,072.00.

Costco Wholesale Trading Up 0.1%

Shares of NASDAQ:COST opened at $916.87 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The business has a 50 day moving average of $955.08 and a 200-day moving average of $971.72. The stock has a market cap of $406.61 billion, a PE ratio of 50.35, a P/E/G ratio of 5.15 and a beta of 0.97.

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

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's payout ratio is presently 28.56%.

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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