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

Key Points

• Divergent Planning LLC invested approximately $6.36 million in Costco Wholesale, acquiring 6,426 shares, making Costco about 1.1% of their holdings.
• Costco reported an EPS of $5.87 for the quarter, surpassing analysts' expectations, with quarterly revenues of $86.16 billion, an 8.1% increase year-over-year.
• The company declared a quarterly dividend of $1.30 per share, set to be paid on November 14th, reflecting an annualized yield of 0.6%.

Divergent Planning LLC purchased a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,426 shares of the retailer's stock, valued at approximately $6,361,000. Costco Wholesale accounts for about 1.1% of Divergent Planning LLC's holdings, making the stock its 22nd largest holding.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in shares of Costco Wholesale by 12.3% during the 4th 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 during the period. Revolve Wealth Partners LLC grew its stake 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 buying an additional 130 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Costco Wholesale by 12.6% during the first quarter. GAMMA Investing LLC now owns 8,628 shares of the retailer's stock worth $8,160,000 after buying an additional 966 shares during the period. Intact Investment Management Inc. grew its position in Costco Wholesale by 89.7% in the 1st quarter. Intact Investment Management Inc. now owns 550 shares of the retailer's stock valued at $520,000 after buying an additional 260 shares in the last quarter. Finally, LVZ Inc. increased its position in shares of Costco Wholesale by 7.6% during the 1st quarter. LVZ Inc. now owns 935 shares of the retailer's stock valued at $884,000 after purchasing an additional 66 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 0.0%

Costco Wholesale stock opened at $936.11 on Tuesday. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. 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 capitalization of $414.86 billion, a PE ratio of 51.41, a PEG ratio of 5.68 and a beta of 0.98. The business's 50-day simple moving average is $948.46 and its 200-day simple moving average is $971.70.

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

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is presently 28.56%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the transaction, the executive vice president directly owned 9,740 shares of the company's stock, valued at $8,912,100. This trade represents a 25.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale 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 transaction, the executive vice president owned 2,362 shares of the company's stock, valued at $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 currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COST shares. Argus raised their target price on Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. The Goldman Sachs Group upped their price objective 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. Citigroup decreased their target price on shares of Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating for the company in a research note on Monday, September 29th. Truist Financial dropped their price target on shares of 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. Finally, Daiwa Capital Markets reduced their price objective on Costco Wholesale from $1,005.00 to $947.00 and set a "neutral" rating for the company in a research report on Tuesday, September 30th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,068.15.

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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