Exchange Traded Concepts LLC Has $16.16 Million Stock Holdings in Costco Wholesale Corporation $COST

Key Points

• Exchange Traded Concepts LLC increased its stake in Costco Wholesale Corporation by 4.3% in Q2, owning 16,328 shares valued at $16.16 million at the end of the reporting period.
• Costco announced a quarterly dividend of $1.30 per share, with a total annualized dividend yield of 0.5% and a payout ratio of 29.50%.
• Analysts have diverse opinions on Costco's stock, with a consensus rating of "Moderate Buy" and an average price target of $1,056.67 according to recent reports.

Exchange Traded Concepts LLC lifted its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,328 shares of the retailer's stock after buying an additional 670 shares during the quarter. Exchange Traded Concepts LLC's holdings in Costco Wholesale were worth $16,164,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Park Capital Management LLC WI raised its stake in Costco Wholesale by 4.5% in the second quarter. Park Capital Management LLC WI now owns 277 shares of the retailer's stock valued at $274,000 after purchasing an additional 12 shares in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in Costco Wholesale in the second quarter valued at approximately $1,130,000. Waypoint Wealth Partners Inc. raised its stake in Costco Wholesale by 52.0% in the second quarter. Waypoint Wealth Partners Inc. now owns 2,198 shares of the retailer's stock valued at $2,176,000 after purchasing an additional 752 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Costco Wholesale by 6.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 156,861 shares of the retailer's stock valued at $154,825,000 after acquiring an additional 8,900 shares during the last quarter. Finally, Atticus Wealth Management LLC grew its holdings in shares of Costco Wholesale by 1.2% in the second quarter. Atticus Wealth Management LLC now owns 3,598 shares of the retailer's stock worth $3,562,000 after purchasing an additional 41 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COST. Morgan Stanley boosted their target price 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. Evercore ISI decreased their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Wolfe Research initiated coverage on Costco Wholesale in a report on Thursday. They issued a "peer perform" rating for the company. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, Truist Financial raised their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,056.67.

Insiders Place Their Bets

In other news, 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 transaction, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the executive vice president directly 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 disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Down 1.1%

Shares of COST traded down $10.15 during midday trading on Monday, reaching $941.01. 863,383 shares of the company were exchanged, compared to its average volume of 2,192,980. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23. The company has a market cap of $417.32 billion, a price-to-earnings ratio of 53.37, a P/E/G ratio of 5.34 and a beta of 0.97. The stock has a 50-day moving average price of $957.97 and a 200-day moving average price of $971.32. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio is 29.50%.

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.