NewEdge Advisors LLC Buys 2,230 Shares of Costco Wholesale Corporation $COST

Key Points

• NewEdge Advisors LLC increased its stake in Costco Wholesale Corporation by 2.6%, acquiring an additional 2,230 shares, resulting in a total of 86,504 shares valued at approximately $81.8 million.
• Costco declared a quarterly dividend of $1.30 per share, translating to an annualized dividend of $5.20, with a payout ratio of 29.50%.
• A majority of analysts rate Costco stock favorably, with an average rating of "Moderate Buy" and a price target averaging around $1,050.

NewEdge Advisors LLC raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,504 shares of the retailer's stock after buying an additional 2,230 shares during the period. NewEdge Advisors LLC's holdings in Costco Wholesale were worth $81,814,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of COST. Corps Capital Advisors LLC boosted its position in Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after buying an additional 10 shares in the last quarter. Covestor Ltd boosted its position in Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock valued at $119,000 after buying an additional 10 shares in the last quarter. Rooted Wealth Advisors Inc. boosted its position in Costco Wholesale by 2.6% in the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock valued at $404,000 after buying an additional 11 shares in the last quarter. Bank & Trust Co boosted its position in Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after buying an additional 11 shares in the last quarter. Finally, Amplius Wealth Advisors LLC boosted its position in Costco Wholesale by 1.3% in the first quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer's stock valued at $819,000 after buying an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Trading Up 0.6%

COST opened at $955.90 on Friday. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year 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 cap of $423.92 billion, a P/E ratio of 54.22, a price-to-earnings-growth ratio of 5.32 and a beta of 0.97. The company has a fifty day moving average price of $962.66 and a two-hundred day moving average price of $978.32.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's payout ratio is 29.50%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday, August 27th. Loop Capital dropped their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. raised 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 research note on Thursday, August 7th. Truist Financial raised their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Finally, Morgan Stanley raised their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,050.00.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the business'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 directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,147 shares of company stock valued at $8,039,440. 0.18% of the stock is currently owned by company insiders.

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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