Costco Wholesale Corporation $COST Stake Boosted by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Costco Wholesale by 21.2%, owning 2,386 shares valued at approximately $2.36 million after acquiring additional shares during the second quarter.
• Costco's recent earnings report showed $5.87 EPS, exceeding analyst expectations, with a revenue of $86.16 billion, marking an 8.1% increase from the previous year.
• Wall Street analysts have a generally positive outlook on Costco, with an average rating of "Moderate Buy" and a price target average of $1,067.19.

Knights of Columbus Asset Advisors LLC raised its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 21.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,386 shares of the retailer's stock after buying an additional 418 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Costco Wholesale were worth $2,362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after buying an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after acquiring an additional 130 shares during the period. Charter Oak Capital Management LLC boosted its position in Costco Wholesale by 7.1% during the 1st quarter. Charter Oak Capital Management LLC now owns 255 shares of the retailer's stock worth $241,000 after acquiring an additional 17 shares during the period. SOA Wealth Advisors LLC. grew its stake in Costco Wholesale by 10,846.8% during the 1st quarter. SOA Wealth Advisors LLC. now owns 20,580 shares of the retailer's stock valued at $203,000 after acquiring an additional 20,392 shares in the last quarter. Finally, Bennett Selby Investments LP increased its holdings in shares of Costco Wholesale by 17.5% in the 1st quarter. Bennett Selby Investments LP now owns 1,109 shares of the retailer's stock valued at $1,049,000 after purchasing an additional 165 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on COST shares. Oppenheimer restated an "outperform" rating and set a $1,130.00 price target on shares of Costco Wholesale in a report on Friday, September 26th. The Goldman Sachs Group lifted their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Wolfe Research initiated coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They issued a "peer perform" rating on the stock. Sanford C. Bernstein increased their price objective on Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. Finally, Truist Financial lowered their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a research note on Friday, September 26th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,067.19.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the 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 transaction, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the business's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares of the company's stock, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock worth $7,588,685 over the last 90 days. Insiders own 0.18% of the company's stock.

Costco Wholesale Trading Down 0.5%

Shares of NASDAQ:COST opened at $910.94 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $403.98 billion, a PE ratio of 50.02, a P/E/G ratio of 5.55 and a beta of 0.98. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23. The firm has a fifty day moving average price of $953.08 and a 200 day moving average price of $972.16.

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

Costco Wholesale Announces Dividend

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

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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