Wealth Enhancement Advisory Services LLC Buys 8,900 Shares of Costco Wholesale Corporation $COST

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Costco by 6.0%, acquiring an additional 8,900 shares, bringing its total to 156,861 shares valued at approximately $154.8 million.
• Costco recently declared a quarterly dividend of $1.30 per share, yielding 0.5% annually and representing a payout ratio of 29.5%.
• A range of analysts have recently updated their ratings on Costco, with 17 analysts rating it as a buy and a consensus average target price of $1,056.67.

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,861 shares of the retailer's stock after purchasing an additional 8,900 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Costco Wholesale were worth $154,825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bulwark Capital Corp bought a new stake in shares of Costco Wholesale during the 2nd quarter worth $25,000. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale in the fourth quarter valued at $25,000. Anderson Financial Strategies LLC lifted its holdings in Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after purchasing an additional 36 shares in the last quarter. eCIO Inc. bought a new stake in Costco Wholesale during the 1st quarter worth approximately $48,000. Finally, Aspect Partners LLC increased its stake in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Insider Activity at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of the firm'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 transaction, the executive vice president owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Teresa A. Jones sold 600 shares of the company's 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 sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $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. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

COST has been the subject of several research reports. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research note on Thursday, May 29th. Wolfe Research initiated coverage on shares of Costco Wholesale in a research report on Thursday. They set a "peer perform" rating for the company. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley lifted their price target on 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, Evercore ISI cut their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,056.67.

Costco Wholesale Stock Down 0.1%

NASDAQ COST traded down $1.20 during mid-day trading on Friday, reaching $951.16. The stock had a trading volume of 4,601,598 shares, compared to its average volume of 1,916,574. The company has a fifty day moving average price of $957.97 and a 200 day moving average price of $971.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The stock has a market cap of $421.82 billion, a PE ratio of 53.95, a price-to-earnings-growth ratio of 5.34 and a beta of 0.97.

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 issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

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.