Cove Private Wealth LLC Buys 959 Shares of Costco Wholesale Corporation $COST

Key Points

• Cove Private Wealth LLC increased its holdings in Costco Wholesale by 44.5%, purchasing an additional 959 shares, bringing its total to 3,115 shares worth approximately $3,084,000.
• Costco reported an earnings per share of $5.87 for the recent quarter, exceeding estimates by $0.06, with revenue of $86.16 billion, representing an 8.1% year-over-year increase.
• Costco has a dividend yield of 0.6% with a recent quarterly dividend of $1.30, showing a payout ratio of 28.56%.

Cove Private Wealth LLC increased its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 44.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,115 shares of the retailer's stock after purchasing an additional 959 shares during the quarter. Costco Wholesale accounts for 1.1% of Cove Private Wealth LLC's investment portfolio, making the stock its 19th biggest position. Cove Private Wealth LLC's holdings in Costco Wholesale were worth $3,084,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Corps Capital Advisors LLC raised its position in Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after purchasing an additional 10 shares during the period. Covestor Ltd raised its position in Costco Wholesale by 8.6% in the 1st quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after purchasing an additional 10 shares during the period. Rooted Wealth Advisors Inc. raised its position in Costco Wholesale by 2.6% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock worth $404,000 after purchasing an additional 11 shares during the period. Bank & Trust Co raised its position in Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares during the period. Finally, Amplius Wealth Advisors LLC increased its position in shares of Costco Wholesale by 1.3% in the first quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer's stock valued at $819,000 after acquiring an additional 11 shares during the period. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Down 2.9%

NASDAQ:COST opened at $915.95 on Friday. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The company's 50-day simple moving average is $955.70 and its 200 day simple moving average is $970.76. The firm has a market capitalization of $406.20 billion, a P/E ratio of 50.30, a PEG ratio of 5.30 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 31.10%. The business's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.15 earnings per share. As a group, analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio is 28.56%.

Analyst Ratings Changes

COST has been the topic of a number of analyst reports. Truist Financial decreased their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a research report on Friday. Evercore ISI decreased their price objective on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating on the stock in a research report on Friday. Morgan Stanley decreased their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Oppenheimer restated an "outperform" rating and issued a $1,130.00 price objective on shares of Costco Wholesale in a research report on Friday. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,069.58.

Insiders Place Their Bets

In other news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction 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 sale, the executive vice president directly 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 disclosure for this sale can be found here. 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.

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