Costco Wholesale Corporation $COST Shares Purchased by Boomfish Wealth Group LLC

Key Points

• Boomfish Wealth Group LLC increased its stake in Costco Wholesale by 72.7% in the second quarter, now holding shares worth approximately $1,098,000.
• Costco reported $5.87 earnings per share for the last quarter, exceeding analyst estimates, with a revenue increase of 8.1% to $86.16 billion.
• The company announced a quarterly dividend of $1.30, representing an annualized yield of 0.6% with a payout ratio of 28.56%.

Boomfish Wealth Group LLC lifted its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 72.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,109 shares of the retailer's stock after purchasing an additional 467 shares during the period. Boomfish Wealth Group LLC's holdings in Costco Wholesale were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Bulwark Capital Corp acquired a new position in Costco Wholesale during the second quarter worth $25,000. Anderson Financial Strategies LLC raised its position in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after acquiring an additional 36 shares during the period. eCIO Inc. acquired a new position in Costco Wholesale during the first quarter worth $48,000. Aspect Partners LLC raised its position in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares during the period. Finally, Ransom Advisory Ltd acquired a new position in Costco Wholesale during the first quarter worth $61,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Trading Up 3.1%

Shares of COST stock opened at $942.89 on Friday. 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 cap of $418.15 billion, a PE ratio of 51.78, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. The company has a 50-day moving average of $952.50 and a two-hundred day moving average of $971.48. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.06. The company had revenue of $86.16 billion during the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. Costco Wholesale's revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $5.15 earnings per share. On average, analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is 28.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on COST shares. DA Davidson restated a "neutral" rating and set a $1,000.00 price objective on shares of Costco Wholesale in a research report on Friday, September 26th. Roth Capital set a $907.00 price objective on shares of Costco Wholesale and gave the stock a "neutral" rating in a research report on Friday, September 26th. Morgan Stanley reduced their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating for the company in a research report on Friday, September 26th. Daiwa Capital Markets reduced their target price on shares of Costco Wholesale from $1,005.00 to $947.00 and set a "neutral" rating for the company in a research report on Tuesday, September 30th. Finally, Mizuho reduced their target price on shares of Costco Wholesale from $975.00 to $950.00 and set a "neutral" rating for the company in a research report on Thursday. Nineteen research 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, Costco Wholesale currently has an average rating of "Moderate Buy" and a consensus target price of $1,066.23.

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 3,381 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president owned 9,740 shares of the company's stock, valued at $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president directly 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 disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock valued at $7,588,685 over the last 90 days. 0.18% of the stock is owned by corporate insiders.

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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