Family Legacy Financial Solutions LLC Makes New Investment in Costco Wholesale Corporation $COST

Key Points

• Family Legacy Financial Solutions LLC has purchased a new stake in Costco Wholesale, acquiring 1,141 shares valued at approximately $1,130,000, making it 24th among the company's holdings.
• Multiple analysts have shown a positive outlook on Costco, with Morgan Stanley raising their target price to $1,225 and a consensus rating of "Moderate Buy" among 17 analysts.
• Costco recently declared a quarterly dividend of $1.30 per share, reflecting a 0.5% yield and a payout ratio of 29.50%.

Family Legacy Financial Solutions LLC acquired a new position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,141 shares of the retailer's stock, valued at approximately $1,130,000. Costco Wholesale makes up approximately 1.0% of Family Legacy Financial Solutions LLC's investment portfolio, making the stock its 24th largest position.

A number of other large investors have also recently bought and sold shares of COST. Investment Management Corp VA ADV bought a new stake in Costco Wholesale during the fourth quarter valued at about $25,000. Bulwark Capital Corp bought a new stake in Costco Wholesale during the second quarter valued at about $25,000. Anderson Financial Strategies LLC boosted its holdings in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after acquiring an additional 36 shares during the period. eCIO Inc. bought a new stake in Costco Wholesale during the first quarter valued at about $48,000. Finally, Aspect Partners LLC boosted its holdings in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Price Performance

NASDAQ:COST traded down $7.90 during mid-day trading on Monday, hitting $943.26. The company's stock had a trading volume of 2,781,931 shares, compared to its average volume of 1,990,076. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. 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 company has a market capitalization of $418.32 billion, a price-to-earnings ratio of 53.50, a P/E/G ratio of 5.34 and a beta of 0.97. The stock has a fifty day moving average of $957.21 and a 200-day moving average of $971.17.

Costco Wholesale Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Loop Capital cut their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research report on Thursday, May 29th. Finally, Wolfe Research initiated coverage on shares of Costco Wholesale in a research report on Thursday. They set a "peer perform" rating for the company. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Costco Wholesale currently has an average rating of "Moderate Buy" and an average price target of $1,056.67.

Insider Activity

In related news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value 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 represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the 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 transaction, the executive vice president directly owned 5,774 shares of the company's stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Company 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.