Lewis Asset Management LLC Increases Stock Holdings in Costco Wholesale Corporation $COST

Key Points

• Lewis Asset Management LLC significantly increased its stake in Costco Wholesale Corporation by 127.2%, owning 2,822 shares valued at approximately $2.79 million.
• Costco declared a quarterly dividend of $1.30, representing an annualized dividend of $5.20 and a yield of 0.5%, with a payout ratio of 29.50%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Costco stock, with a price target averaging $1,056.67, although some firms have recently adjusted their target prices downward.

Lewis Asset Management LLC raised its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 127.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,822 shares of the retailer's stock after purchasing an additional 1,580 shares during the period. Costco Wholesale comprises 1.3% of Lewis Asset Management LLC's investment portfolio, making the stock its 16th biggest position. Lewis Asset Management LLC's holdings in Costco Wholesale were worth $2,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Costco Wholesale Stock Down 0.1%

NASDAQ:COST opened at $951.16 on Friday. The stock's fifty day moving average price is $957.97 and its two-hundred day moving average price is $971.70. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The company has a market cap of $421.82 billion, a price-to-earnings ratio of 53.95, a P/E/G ratio of 5.34 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. Investors of record on Friday, August 1st were given a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio is currently 29.50%.

Insiders Place Their Bets

In other 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 transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction, the executive vice president owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This represents 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on COST shares. Wolfe Research started coverage on Costco Wholesale in a research report on Thursday. They set a "peer perform" rating on the stock. Loop Capital reduced their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley raised their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday, August 27th. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,056.67.

About Costco Wholesale

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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