Costco Wholesale Corporation $COST Shares Acquired by EdgeRock Capital LLC

Key Points

• EdgeRock Capital LLC increased its stake in Costco Wholesale Corporation by 39.8%, acquiring an additional 281 shares to hold a total of 987 shares valued at approximately $976,000.
• Costco reported earnings of $5.87 per share for the last quarter, exceeding analysts’ expectations, along with a revenue of $86.16 billion.
• The company announced a quarterly dividend of $1.30 per share, reflecting an annualized payout of $5.20 with a yield of 0.6%.

EdgeRock Capital LLC increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 39.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 987 shares of the retailer's stock after purchasing an additional 281 shares during the quarter. EdgeRock Capital LLC's holdings in Costco Wholesale were worth $976,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in COST. Brighton Jones LLC grew its position in shares of Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after buying an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after acquiring an additional 130 shares during the period. Mascagni Wealth Management Inc. acquired a new position in Costco Wholesale in the fourth quarter valued at approximately $59,000. Fire Capital Management LLC bought a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $1,223,000. Finally, Milestone Asset Management Group LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $1,085,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Insiders Place Their Bets

In other news, EVP Yoram Rubanenko sold 4,000 shares of the company's 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 sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were 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 disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

COST stock opened at $943.31 on Friday. The company has a 50-day simple moving average of $956.40 and a 200 day simple moving average of $970.87. The company has a market capitalization of $418.34 billion, a P/E ratio of 53.51, a PEG ratio of 5.31 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 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 the consensus estimate of $86.01 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. Costco Wholesale's revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.15 EPS. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company 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 yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio is 29.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Loop Capital dropped their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Truist Financial boosted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday. Finally, Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a report on Thursday, May 29th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Costco Wholesale currently has an average rating of "Moderate Buy" and a consensus target price of $1,061.30.

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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