Cullinan Associates Inc. Has $13.69 Million Stake in Costco Wholesale Corporation $COST

Key Points

• Cullinan Associates Inc. increased its stake in Costco Wholesale Corporation by 2.5% during the 2nd quarter, bringing its total holdings to approximately $13.69 million with 13,825 shares.
• Costco recently reported quarterly earnings of $5.87 EPS, exceeding analyst expectations, and had a revenue of $86.16 billion, marking an 8.1% year-over-year increase.
• The company declared a quarterly dividend of $1.30 per share, reflecting an annualized dividend yield of 0.6% and a payout ratio of 28.56%.

Cullinan Associates Inc. boosted its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,825 shares of the retailer's stock after acquiring an additional 342 shares during the quarter. Cullinan Associates Inc.'s holdings in Costco Wholesale were worth $13,686,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Bulwark Capital Corp acquired a new position in Costco Wholesale in the 2nd quarter valued at about $25,000. Anderson Financial Strategies LLC boosted its holdings in shares of 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 shares of Costco Wholesale in the first quarter valued at approximately $48,000. Aspect Partners LLC increased its stake in shares of 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 purchasing an additional 11 shares during the period. Finally, Ransom Advisory Ltd bought a new position in shares of Costco Wholesale during the first quarter worth approximately $61,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were 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 owned 5,774 shares of the company's stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction 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 owned 2,362 shares of the company's stock, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,981 shares of company stock worth $7,588,685. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

COST stock opened at $915.38 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The firm has a market cap of $405.95 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 5.55 and a beta of 0.98. The company's fifty day simple moving average is $953.54 and its 200 day simple moving average is $972.15. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $86.16 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company posted $5.15 EPS. On average, analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 yield of 0.6%. Costco Wholesale's payout ratio is 28.56%.

Analysts Set New Price Targets

A number of research analysts have commented on COST shares. DA Davidson reaffirmed a "neutral" rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a report on Friday, September 26th. Evercore ISI decreased their price target on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating on the stock in a research note on Friday, September 26th. Morgan Stanley dropped 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 note 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 on the stock in a research report on Tuesday, September 30th. Finally, Argus lifted their price target on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a "buy" rating in a research report on Monday, September 29th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,067.19.

Costco Wholesale 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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