Costco Wholesale Corporation $COST Shares Acquired by BCS Wealth Management

Key Points

• BCS Wealth Management increased its stake in Costco Wholesale Corporation by 79.8% in the second quarter, owning a total of 1,246 shares valued at approximately $1.23 million.
• The company declared a quarterly dividend of $1.30 per share, resulting in an annualized yield of 0.6% and a payout ratio of 29.50%.
• Costco Stock has a strong support from Wall Street, with 17 analysts rating it as a Buy and an average target price of $1,061.30.

BCS Wealth Management lifted its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 79.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,246 shares of the retailer's stock after purchasing an additional 553 shares during the quarter. BCS Wealth Management's holdings in Costco Wholesale were worth $1,233,000 at the end of the most recent reporting period.

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

Costco Wholesale Trading Up 0.0%

Shares of NASDAQ:COST opened at $943.60 on Wednesday. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The company's 50 day moving average is $956.73 and its two-hundred day moving average is $970.98. The company has a market cap of $418.46 billion, a PE ratio of 53.52, a P/E/G ratio of 5.30 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Insider Transactions at Costco Wholesale

In other news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 of the company's stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COST. Wolfe Research initiated coverage on Costco Wholesale in a report on Thursday, September 18th. They issued a "peer perform" rating on the stock. Evercore ISI decreased 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 note on Tuesday, June 17th. Truist Financial increased their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday, August 27th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,061.30.

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.

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.