Costco Wholesale Corporation $COST Shares Acquired by CGN Advisors LLC

Key Points

• CGN Advisors LLC increased its stake in Costco Wholesale by 32.2%, owning 2,979 shares valued at approximately $2.9 million following the additional acquisition.
• Insider activity saw EVP Yoram Rubanenko selling 4,000 shares for a total of $3.9 million, representing a 40.92% decrease in his position.
• The company recently announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 0.6% and a payout ratio of 29.5%.

CGN Advisors LLC lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 32.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,979 shares of the retailer's stock after acquiring an additional 725 shares during the quarter. CGN Advisors LLC's holdings in Costco Wholesale were worth $2,949,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bulwark Capital Corp acquired a new position in Costco Wholesale in the second quarter worth approximately $25,000. Anderson Financial Strategies LLC grew its position in Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after buying an additional 36 shares during the last quarter. eCIO Inc. acquired a new position in Costco Wholesale in the first quarter worth approximately $48,000. Aspect Partners LLC grew its position in 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 buying an additional 11 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Costco Wholesale in the fourth quarter worth approximately $58,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the business'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 transaction, the executive vice president owned 2,362 shares in the company, 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. Insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

Shares of COST opened at $943.26 on Tuesday. The company has a market capitalization of $418.32 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 5.34 and a beta of 0.97. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23. 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 company's fifty day moving average price is $957.21 and its 200 day moving average price is $971.17.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale's payout ratio is presently 29.50%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Evercore ISI decreased their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Loop Capital decreased their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Wolfe Research assumed coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They issued a "peer perform" rating for the company. Morgan Stanley raised their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,061.30.

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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