Mirae Asset Global Investments Co. Ltd. Acquires 13,251 Shares of Costco Wholesale Corporation $COST

Key Points

• Mirae Asset Global Investments has increased its stake in Costco Wholesale by 8.8%, owning a total of 163,477 shares valued at approximately $161.8 million as of the end of the recent quarter.
• Several analysts revised their price targets for Costco, with Goldman Sachs increasing it from $1,333 to $1,418 and Truist Financial lowering theirs from $1,042 to $1,033, indicating varied sentiment among brokerages.
• Costco recently reported an earnings per share (EPS) of $5.87 for the quarter, exceeding estimates, with quarterly revenue showing an 8.1% year-over-year growth.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,477 shares of the retailer's stock after purchasing an additional 13,251 shares during the period. Costco Wholesale accounts for about 0.6% of Mirae Asset Global Investments Co. Ltd.'s portfolio, making the stock its 29th biggest position. Mirae Asset Global Investments Co. Ltd.'s holdings in Costco Wholesale were worth $161,832,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Corps Capital Advisors LLC boosted its stake in Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after acquiring an additional 10 shares in the last quarter. Covestor Ltd boosted its position in shares of Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after purchasing an additional 10 shares in the last quarter. Farrell Financial LLC grew its stake in shares of Costco Wholesale by 2.2% in the 1st quarter. Farrell Financial LLC now owns 522 shares of the retailer's stock valued at $493,000 after buying an additional 11 shares during the period. Western Pacific Wealth Management LP increased its position in Costco Wholesale by 0.5% in the 1st quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer's stock valued at $1,925,000 after buying an additional 11 shares in the last quarter. Finally, MOKAN Wealth Management Inc. raised its stake in Costco Wholesale by 0.4% during the 1st quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer's stock worth $2,499,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Transactions at Costco Wholesale

In related news, EVP Russell D. Miller sold 3,381 shares of the business's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the transaction, the executive vice president directly owned 9,740 shares of the company's stock, valued at approximately $8,912,100. The trade was a 25.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction 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 trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,981 shares of company stock worth $7,588,685 in the last ninety days. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on COST. Sanford C. Bernstein raised their price objective on Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Truist Financial reduced their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating for the company in a research report on Friday, September 26th. The Goldman Sachs Group upped 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 report on Friday, September 26th. Morgan Stanley dropped their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating on the stock in a research note on Friday, September 26th. Finally, DA Davidson reissued a "neutral" rating and set a $1,000.00 target price on shares of Costco Wholesale in a research report on Friday, September 26th. Eighteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus target price of $1,067.19.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $916.77 on Friday. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The company's 50 day moving average price is $953.95 and its two-hundred day moving average price is $971.03. The stock has a market cap of $406.57 billion, a P/E ratio of 50.34, a P/E/G ratio of 5.56 and a beta of 0.98. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) 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 return on equity of 30.09% and a net margin of 2.94%.Costco Wholesale's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.15 earnings per share. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is currently 28.56%.

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.

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