Costco Wholesale Corporation $COST Shares Acquired by Seamount Financial Group Inc.

Key Points

• Seamount Financial Group Inc. increased its stake in Costco Wholesale by 50.3%, bringing its total shares to 3,516, valued at approximately $3.48 million.
• Costco reported a quarterly EPS of $5.87, exceeding estimates of $5.81, with revenue reaching $86.16 billion, up 8.1% year-over-year.
• Institutional investors own 68.48% of Costco’s stock, indicating strong institutional interest in the company.

Seamount Financial Group Inc. boosted its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 50.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,516 shares of the retailer's stock after buying an additional 1,176 shares during the quarter. Costco Wholesale accounts for approximately 1.8% of Seamount Financial Group Inc.'s investment portfolio, making the stock its 13th largest position. Seamount Financial Group Inc.'s holdings in Costco Wholesale were worth $3,481,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Corps Capital Advisors LLC lifted its stake in Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after purchasing an additional 10 shares during the last quarter. Covestor Ltd grew its position in Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after buying an additional 10 shares during the last quarter. Farrell Financial LLC increased its holdings in shares of Costco Wholesale by 2.2% in the first quarter. Farrell Financial LLC now owns 522 shares of the retailer's stock valued at $493,000 after buying an additional 11 shares in the last quarter. Western Pacific Wealth Management LP lifted its position in shares of Costco Wholesale by 0.5% during the 1st quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer's stock valued at $1,925,000 after acquiring an additional 11 shares during the last quarter. Finally, MOKAN Wealth Management Inc. boosted its stake 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 acquiring an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COST shares. DA Davidson reaffirmed a "neutral" rating and set a $1,000.00 target price on shares of Costco Wholesale in a research report on Friday, September 26th. JPMorgan Chase & Co. dropped their price target on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a research note on Friday, September 26th. Sanford C. Bernstein upped their price objective on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Argus lifted their target price on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Costco Wholesale in a report on Saturday, September 27th. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Costco Wholesale currently has an average rating of "Moderate Buy" and an average price target of $1,067.19.

Costco Wholesale Price Performance

NASDAQ COST opened at $910.94 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The firm has a market capitalization of $403.98 billion, a price-to-earnings ratio of 50.02, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. The company has a 50 day simple moving average of $953.08 and a 200-day simple moving average of $972.16. Costco Wholesale Corporation has a 52-week low of $867.34 and a 52-week high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS 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 firm had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the previous year, the firm posted $5.15 earnings per share. The firm's revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Insider Buying and Selling

In related news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction on Wednesday, August 20th. The stock was 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. This trade represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the business's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the transaction, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,981 shares of company stock worth $7,588,685. Corporate insiders own 0.18% of the company's stock.

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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