Perigon Wealth Management LLC Acquires 291 Shares of Costco Wholesale Corporation $COST

Key Points

• Perigon Wealth Management LLC increased its stake in Costco Wholesale Corporation by 1.3%, acquiring an additional 291 shares, bringing its total holdings to 22,003 shares valued at approximately $21.78 million.
• Several institutional investors, including Magnus Financial Group LLC and Motive Wealth Advisors, also boosted their positions in Costco during the second quarter, highlighting a strong interest from investors in the retailer.
• Costco announced a quarterly dividend of $1.30 per share, representing an annualized yield of 0.6% and a payout ratio of 29.5%.

Perigon Wealth Management LLC raised its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,003 shares of the retailer's stock after purchasing an additional 291 shares during the quarter. Perigon Wealth Management LLC's holdings in Costco Wholesale were worth $21,781,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Magnus Financial Group LLC grew its stake in shares of Costco Wholesale by 10.2% in the 2nd quarter. Magnus Financial Group LLC now owns 1,585 shares of the retailer's stock worth $1,569,000 after acquiring an additional 147 shares in the last quarter. Motive Wealth Advisors grew its position in Costco Wholesale by 13.4% during the second quarter. Motive Wealth Advisors now owns 525 shares of the retailer's stock valued at $520,000 after buying an additional 62 shares during the period. Retirement Guys Formula LLC grew its position in Costco Wholesale by 3.9% during the second quarter. Retirement Guys Formula LLC now owns 2,987 shares of the retailer's stock valued at $2,957,000 after buying an additional 113 shares during the period. LeConte Wealth Management LLC grew its position in Costco Wholesale by 49.8% during the second quarter. LeConte Wealth Management LLC now owns 385 shares of the retailer's stock valued at $381,000 after buying an additional 128 shares during the period. Finally, BigSur Wealth Management LLC boosted its position in Costco Wholesale by 1.0% during the second quarter. BigSur Wealth Management LLC now owns 3,113 shares of the retailer's stock worth $3,082,000 after purchasing an additional 30 shares during the period. Institutional investors own 68.48% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on COST. Truist Financial increased their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Evercore ISI cut their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Morgan Stanley increased their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Loop Capital cut their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Finally, Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Seventeen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,061.30.

Insider Buying and Selling

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares of the company's stock, 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 SEC, which can be accessed through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on 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 directly owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Costco Wholesale Trading Up 0.2%

Shares of COST opened at $945.27 on Thursday. The firm's 50 day simple moving average is $956.61 and its 200 day simple moving average is $970.80. The company has a market capitalization of $419.21 billion, a P/E ratio of 53.62, a P/E/G ratio of 5.30 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. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

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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