Costco Wholesale Corporation $COST Shares Bought by Lyell Wealth Management LP

Key Points

• Lyell Wealth Management LP has increased its stake in Costco Wholesale by 3.1%, bringing its total holdings to 28,341 shares, which are valued at approximately $28 million.
• Costco reported quarterly earnings of $5.87 EPS, exceeding analysts' expectations, with revenues of $86.16 billion, marking an 8.1% year-over-year increase.
• The company declared a quarterly dividend of $1.30 per share, to be paid on November 14th, representing an annualized dividend yield of 0.6%.

Lyell Wealth Management LP increased its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,341 shares of the retailer's stock after acquiring an additional 859 shares during the quarter. Costco Wholesale accounts for approximately 2.2% of Lyell Wealth Management LP's portfolio, making the stock its 8th largest position. Lyell Wealth Management LP's holdings in Costco Wholesale were worth $28,056,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Corps Capital Advisors LLC grew its stake in shares of 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 boosted its holdings 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 acquiring an additional 10 shares in the last quarter. MOKAN Wealth Management Inc. boosted its holdings in Costco Wholesale by 0.4% in the first 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. Aspect Partners LLC grew its stake in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares during the period. Finally, Viewpoint Capital Management LLC increased its holdings in shares of Costco Wholesale by 0.4% during the first quarter. Viewpoint Capital Management LLC now owns 2,689 shares of the retailer's stock valued at $2,543,000 after acquiring an additional 11 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, 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 transaction, the executive vice president directly owned 9,740 shares in the company, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $936.33 on Monday. The company has a market capitalization of $414.96 billion, a PE ratio of 51.42, a PEG ratio of 5.68 and a beta of 0.98. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The stock's 50 day moving average price is $949.51 and its 200-day moving average price is $971.56. Costco Wholesale Corporation has a twelve month low of $867.34 and a twelve month high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results 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 return on equity of 30.09% and a net margin of 2.94%.The company had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. During the same period last year, the business posted $5.15 earnings per share. Costco Wholesale's revenue was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued 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 is Friday, October 31st. Costco Wholesale's payout ratio is 28.56%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Evercore ISI lowered their target price on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating on the stock in a research report on Friday, September 26th. Mizuho decreased their price target on shares of Costco Wholesale from $975.00 to $950.00 and set a "neutral" rating for the company in a research note on Thursday, October 9th. Argus raised their price objective on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a "buy" rating in a research note on Monday, September 29th. The Goldman Sachs Group upped 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 report on Friday, September 26th. Finally, Morgan Stanley cut their price target on Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating for the company in a research note on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.15.

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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