Fishman Jay A Ltd. MI Purchases 575 Shares of Costco Wholesale Corporation $COST

Key Points

• Fishman Jay A Ltd. MI increased its holdings in Costco Wholesale Corporation by 3.5% in Q2, acquiring an additional 575 shares, bringing its total to 16,888 shares valued at approximately $16.7 million.
• Despite some price target adjustments from analysts, Costco remains highly rated with a consensus opinion of "Moderate Buy" and a price target of $1,067.19 from 19 analysts.
• The company reported $5.87 earnings per share for the last quarter, exceeding analysts' expectations, and had a revenue of $86.16 billion, marking an 8.1% increase year-over-year.

Fishman Jay A Ltd. MI grew its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,888 shares of the retailer's stock after acquiring an additional 575 shares during the period. Costco Wholesale comprises about 1.6% of Fishman Jay A Ltd. MI's portfolio, making the stock its 16th largest holding. Fishman Jay A Ltd. MI's holdings in Costco Wholesale were worth $16,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of COST. Personal CFO Solutions LLC lifted its stake in shares of Costco Wholesale by 12.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after buying an additional 167 shares during the last quarter. F&V Capital Management LLC acquired a new stake in shares of Costco Wholesale during the 1st quarter worth about $236,000. Graybill Wealth Management LTD. acquired a new stake in shares of Costco Wholesale during the 1st quarter worth about $3,095,000. Rossmore Private Capital lifted its stake in shares of Costco Wholesale by 0.9% during the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock worth $6,325,000 after buying an additional 62 shares during the last quarter. Finally, Gateway Wealth Partners LLC lifted its stake in shares of Costco Wholesale by 2.0% during the 1st quarter. Gateway Wealth Partners LLC now owns 1,380 shares of the retailer's stock worth $1,305,000 after buying an additional 27 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on COST. Weiss Ratings reiterated a "buy (b-)" rating on shares of Costco Wholesale in a research note on Saturday, September 27th. JPMorgan Chase & Co. dropped their price objective on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating for the company in a research note on Friday, September 26th. Truist Financial dropped their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating for the company in a research note on Friday, September 26th. Roth Capital set a $907.00 price objective on shares of Costco Wholesale and gave the stock a "neutral" rating in a research note on Friday, September 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus price target of $1,067.19.

Costco Wholesale Stock Performance

NASDAQ COST opened at $915.38 on Monday. The firm has a market cap of $405.95 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 5.55 and a beta of 0.98. The company has a fifty day moving average price of $953.54 and a 200-day moving average price of $972.15. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23.

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

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio is presently 28.56%.

Insider Activity

In other news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the firm's stock in a transaction that occurred on 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 owned 9,740 shares of the company's stock, valued at $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,981 shares of company stock worth $7,588,685. 0.18% of the stock is owned by company insiders.

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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