Divergent Planning LLC Invests $6.36 Million in Costco Wholesale Corporation $COST

Divergent Planning LLC purchased a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,426 shares of the retailer's stock, valued at approximately $6,361,000. Costco Wholesale comprises about 2.4% of Divergent Planning LLC's holdings, making the stock its 13th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its stake in Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after purchasing an additional 2,172 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of 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. Bank Pictet & Cie Europe AG grew its stake in shares of Costco Wholesale by 45.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after acquiring an additional 36,384 shares during the period. Highview Capital Management LLC DE boosted its stake in Costco Wholesale by 0.8% in the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock worth $4,410,000 after purchasing an additional 40 shares during the period. Finally, Westwood Holdings Group Inc. boosted its stake in Costco Wholesale by 17.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 13,008 shares of the retailer's stock worth $11,919,000 after purchasing an additional 1,898 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on COST. Truist Financial raised their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. raised their price objective on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Morgan Stanley raised their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Wednesday, August 27th. Finally, Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research report on Thursday, May 29th. Seventeen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,056.67.

Costco Wholesale Stock Down 0.8%

COST stock opened at $952.07 on Wednesday. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23. The business has a fifty day moving average price of $959.09 and a 200-day moving average price of $973.54. 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 stock has a market capitalization of $422.22 billion, a P/E ratio of 54.00, a P/E/G ratio of 5.40 and a beta of 0.97.

Costco Wholesale Announces Dividend

The firm also recently declared 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 was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's payout ratio is currently 29.50%.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the company's 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 sale, the executive vice president owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

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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