TruWealth Advisors LLC Acquires 516 Shares of Costco Wholesale Corporation $COST

Key Points

• TruWealth Advisors LLC increased its stake in Costco Wholesale by 1.4%, now holding 37,906 shares valued at approximately $37.5 million.
• Costco announced a quarterly dividend of $1.30 per share, with a yield of 0.5% and a payout ratio of 29.5%.
• Analysts have a consensus rating of "Moderate Buy" for Costco, with a consensus target price of approximately $1,056.67.

TruWealth Advisors LLC increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,906 shares of the retailer's stock after acquiring an additional 516 shares during the quarter. Costco Wholesale makes up 2.1% of TruWealth Advisors LLC's investment portfolio, making the stock its 15th largest position. TruWealth Advisors LLC's holdings in Costco Wholesale were worth $37,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Costco Wholesale by 106,402.1% during the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock valued at $7,717,744,000 after purchasing an additional 8,152,528 shares in the last quarter. Nuveen LLC bought a new position in shares of Costco Wholesale during the first quarter valued at $3,461,159,000. Vanguard Group Inc. raised its position in shares of Costco Wholesale by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock worth $40,332,515,000 after purchasing an additional 443,101 shares during the last quarter. National Bank of Canada FI boosted its stake in Costco Wholesale by 84.0% in the 1st quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock worth $768,114,000 after purchasing an additional 370,806 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Costco Wholesale in the 4th quarter worth about $280,046,000. 68.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COST. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, August 27th. Evercore ISI reduced their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Morgan Stanley upped their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Truist Financial lifted their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Finally, Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,056.67.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock traded down $9.15 on Tuesday, hitting $950.95. 881,751 shares of the company's stock were exchanged, compared to its average volume of 2,186,260. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The company has a 50-day simple moving average of $959.76 and a 200-day simple moving average of $973.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The stock has a market capitalization of $421.73 billion, a PE ratio of 54.00, a PEG ratio of 5.45 and a beta of 0.97.

Costco Wholesale Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Insider Activity

In related news, EVP Yoram Rubanenko sold 4,000 shares of the business'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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale 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 in the company, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,147 shares of company stock valued at $5,031,130 in the last ninety days. Corporate insiders own 0.18% of the company's stock.

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.