Family Investment Center Inc. Purchases New Stake in Costco Wholesale Corporation $COST

Key Points

• Family Investment Center Inc. acquired a new stake in Costco Wholesale, purchasing 373 shares valued at approximately $369,000 in the second quarter.
• Institutional investors hold 68.48% of Costco's stock, with several firms boosting their stakes significantly, indicating strong institutional interest in the company.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Costco, with target prices ranging from $1,060.00 to $1,160.00, reflecting bullish sentiment on the stock's potential for growth.

Family Investment Center Inc. purchased a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 373 shares of the retailer's stock, valued at approximately $369,000.

A number of other institutional investors have also recently modified their holdings of the business. Kwmg LLC boosted its stake in shares of Costco Wholesale by 7.5% in the second quarter. Kwmg LLC now owns 777 shares of the retailer's stock valued at $769,000 after buying an additional 54 shares in the last quarter. Kure Advisory LLC boosted its stake in shares of Costco Wholesale by 12.0% in the second quarter. Kure Advisory LLC now owns 429 shares of the retailer's stock valued at $425,000 after buying an additional 46 shares in the last quarter. ACT Advisors LLC. purchased a new stake in shares of Costco Wholesale in the second quarter valued at approximately $208,000. CGN Advisors LLC boosted its stake in shares of Costco Wholesale by 32.2% in the second quarter. CGN Advisors LLC now owns 2,979 shares of the retailer's stock valued at $2,949,000 after buying an additional 725 shares in the last quarter. Finally, Optima Capital LLC boosted its stake in shares of Costco Wholesale by 6.8% in the second quarter. Optima Capital LLC now owns 1,181 shares of the retailer's stock valued at $1,169,000 after buying an additional 75 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Evercore ISI decreased their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday, August 27th. Finally, Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,061.30.

Costco Wholesale Stock Performance

NASDAQ COST opened at $943.26 on Tuesday. The company has a market capitalization of $418.32 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 5.34 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The business's 50-day moving average price is $957.21 and its 200 day moving average price is $971.17. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23.

Costco Wholesale Dividend Announcement

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

Insider Activity

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was 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 $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

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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