Coordinated Financial Services Inc. Buys Shares of 1,267 Costco Wholesale Corporation $COST

Key Points

• Coordinated Financial Services Inc. has acquired a new stake in Costco Wholesale, purchasing 1,267 shares valued at approximately $1,255,000 in the second quarter.
• Institutional investors currently hold 68.48% of Costco's stock, indicating significant interest from large financial entities.
• Costco's stock has received multiple analyst upgrades, with Goldman Sachs increasing its target price to $1,418.00 while others have set price targets between $1,000.00 and $1,418.00.

Coordinated Financial Services Inc. bought a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,267 shares of the retailer's stock, valued at approximately $1,255,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Corps Capital Advisors LLC grew its holdings in Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after buying an additional 10 shares during the period. Covestor Ltd grew its holdings in Costco Wholesale by 8.6% in the 1st quarter. Covestor Ltd now owns 126 shares of the retailer's stock valued at $119,000 after buying an additional 10 shares during the period. Farrell Financial LLC grew its holdings in Costco Wholesale by 2.2% in the 1st quarter. Farrell Financial LLC now owns 522 shares of the retailer's stock valued at $493,000 after buying an additional 11 shares during the period. Western Pacific Wealth Management LP grew its holdings in Costco Wholesale by 0.5% in the 1st quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer's stock valued at $1,925,000 after buying an additional 11 shares during the period. Finally, MOKAN Wealth Management Inc. grew its holdings in shares of Costco Wholesale by 0.4% during the 1st quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer's stock worth $2,499,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares of the company's stock, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock valued at $7,588,685 in the last three months. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on COST shares. The Goldman Sachs Group increased their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. JPMorgan Chase & Co. reduced their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a report on Friday, September 26th. Oppenheimer restated an "outperform" rating and set a $1,130.00 target price on shares of Costco Wholesale in a report on Friday, September 26th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday, September 24th. Finally, DA Davidson restated a "neutral" rating and set a $1,000.00 target price on shares of Costco Wholesale in a report on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,066.23.

Costco Wholesale Stock Up 3.1%

NASDAQ COST opened at $942.89 on Friday. The stock has a market cap of $418.15 billion, a PE ratio of 51.78, a P/E/G ratio of 5.55 and a beta of 0.98. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The business has a 50 day moving average price of $952.50 and a two-hundred day moving average price of $971.48. 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 (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, topping analysts' consensus estimates of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to analysts' expectations of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.Costco Wholesale's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.15 EPS. As a group, sell-side analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio is presently 28.56%.

About Costco Wholesale

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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