Martin Capital Partners LLC Makes New Investment in Costco Wholesale Corporation $COST

Key Points

• Martin Capital Partners LLC has made a new investment by purchasing 425 shares of Costco Wholesale Corporation, valued at approximately $421,000.
• Costco recently declared a quarterly dividend of $1.30 per share, representing an annualized yield of 0.5% and a payout ratio of 29.50%.
• Institutional investors currently own 68.48% of Costco's shares, indicating strong institutional confidence in the retailer.

Martin Capital Partners LLC purchased a new position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 425 shares of the retailer's stock, valued at approximately $421,000.

Several other institutional investors have also added to or reduced their stakes in the company. Personal CFO Solutions LLC boosted its holdings in Costco Wholesale by 12.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock valued at $1,436,000 after purchasing an additional 167 shares during the period. F&V Capital Management LLC acquired a new stake in shares of Costco Wholesale in the first quarter valued at approximately $236,000. Graybill Wealth Management LTD. bought a new stake in shares of Costco Wholesale in the first quarter valued at approximately $3,095,000. Rossmore Private Capital boosted its stake in shares of Costco Wholesale by 0.9% in the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock valued at $6,325,000 after buying an additional 62 shares during the period. Finally, Curat Global LLC acquired a new stake in Costco Wholesale during the first quarter worth approximately $241,000. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $967.90 on Monday. The company has a market cap of $429.24 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 5.45 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The firm has a 50 day simple moving average of $960.40 and a 200 day simple moving average of $974.31. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Insider Buying and Selling

In other news, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares of the company's stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president directly 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. Insiders have sold a total of 5,147 shares of company stock worth $5,031,130 in the last ninety days. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. JPMorgan Chase & Co. raised their price target 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. Truist Financial boosted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Loop Capital decreased their target price on shares of 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. Seventeen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,056.67.

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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