Costco Wholesale Corporation $COST Stake Increased by Consolidated Portfolio Review Corp

Key Points

• Consolidated Portfolio Review Corp increased its stake in Costco Wholesale by 45.7%, owning 1,574 shares valued at approximately $1,558,000 after acquiring additional shares in Q2.
• Several analysts have recently lowered their price targets for Costco, with JPMorgan reducing theirs from $1,160.00 to $1,050.00, while the consensus price target is now $1,067.19.
• Costco reported earnings of $5.87 per share for the last quarter, exceeding estimates and reflecting an 8.1% year-over-year revenue growth to $86.16 billion.

Consolidated Portfolio Review Corp grew its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 45.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,574 shares of the retailer's stock after acquiring an additional 494 shares during the quarter. Consolidated Portfolio Review Corp's holdings in Costco Wholesale were worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Bulwark Capital Corp bought a new position in Costco Wholesale during the 2nd quarter worth $25,000. Anderson Financial Strategies LLC grew its stake 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 buying an additional 36 shares during the last quarter. eCIO Inc. bought a new position in Costco Wholesale during the 1st quarter worth $48,000. Aspect Partners LLC grew its stake in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares during the last quarter. Finally, Bank & Trust Co grew its position in shares of Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after acquiring an additional 11 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating for the company in a research report on Friday, September 26th. Daiwa Capital Markets decreased 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. Morgan Stanley decreased their target price 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. Evercore ISI decreased their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a report on Friday, September 26th. Finally, Roth Capital set a $907.00 price objective on Costco Wholesale and gave the stock a "neutral" rating in a report on Friday. Eighteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,067.19.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $925.63 on Wednesday. The stock has a fifty day moving average price of $954.76 and a two-hundred day moving average price of $971.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The firm has a market cap of $410.50 billion, a P/E ratio of 50.83, a PEG ratio of 5.59 and a beta of 0.97. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year 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 earnings per share (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 firm had revenue of $86.16 billion during the quarter, compared to analyst estimates of $86.01 billion. During the same period last year, the company posted $5.15 EPS. The firm's quarterly revenue was up 8.1% on a year-over-year basis. Research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insider Activity

In related news, EVP Teresa A. Jones sold 600 shares of the firm'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 completion of the sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% 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.

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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