Evanson Asset Management LLC Raises Stake in Costco Wholesale Corporation $COST

Key Points

• Evanson Asset Management LLC increased its stake in Costco by 130.6%, owning 1,446 shares valued at approximately $1.43 million.
• Costco recently announced a quarterly dividend of $1.30 per share, with an annualized dividend yield of 0.6%.
• Analysts maintain a consensus rating of "Moderate Buy" for Costco, with a price target averaging $1,061.30.

Evanson Asset Management LLC lifted its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 130.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,446 shares of the retailer's stock after acquiring an additional 819 shares during the quarter. Evanson Asset Management LLC's holdings in Costco Wholesale were worth $1,432,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Bulwark Capital Corp acquired a new stake in Costco Wholesale during the second quarter worth about $25,000. Anderson Financial Strategies LLC increased its position in shares of Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after buying an additional 36 shares in the last quarter. eCIO Inc. acquired a new position in shares of Costco Wholesale during the 1st quarter worth approximately $48,000. Aspect Partners LLC lifted its position in shares of Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in Costco Wholesale in the 4th quarter worth $58,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $943.60 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The firm's 50 day moving average is $956.73 and its two-hundred day moving average is $970.98. The firm has a market capitalization of $418.46 billion, a P/E ratio of 53.52, a P/E/G ratio of 5.30 and a beta of 0.97.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend 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 presently 29.50%.

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on COST shares. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research note on Thursday, May 29th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Wednesday, August 27th. JPMorgan Chase & Co. boosted 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. Finally, Loop Capital lowered their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Costco Wholesale currently has a consensus rating of "Moderate Buy" and an average price target of $1,061.30.

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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