Private Client Services LLC Acquires 270 Shares of Costco Wholesale Corporation $COST

Key Points

• Private Client Services LLC increased its stake in Costco Wholesale Corporation by 36.0%, now owning a total of 1,021 shares worth approximately $1,011,000.
• Costco's recent quarterly dividend of $1.30 was announced, representing an annualized dividend yield of 0.5% with a payout ratio of 29.50%.
• Equity analysts have mixed ratings on Costco, with target prices ranging from $1,035.00 to $1,225.00, reflecting an average rating of "Moderate Buy".

Private Client Services LLC increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 36.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,021 shares of the retailer's stock after buying an additional 270 shares during the quarter. Private Client Services LLC's holdings in Costco Wholesale were worth $1,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Corps Capital Advisors LLC lifted its position in shares of Costco Wholesale by 0.7% during the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after buying an additional 10 shares during the period. Covestor Ltd lifted 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 buying an additional 10 shares during the period. Rooted Wealth Advisors Inc. lifted its position in shares of Costco Wholesale by 2.6% during the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock worth $404,000 after buying an additional 11 shares during the period. Bank & Trust Co lifted its position in shares of Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after buying an additional 11 shares during the period. Finally, Amplius Wealth Advisors LLC lifted its position in shares of Costco Wholesale by 1.3% during the 1st quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer's stock worth $819,000 after buying an additional 11 shares during the period. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Up 0.4%

NASDAQ COST opened at $967.90 on Friday. The stock has a fifty day moving average of $960.40 and a 200-day moving average of $975.04. The stock has a market capitalization of $429.24 billion, a P/E ratio of 54.90, a price-to-earnings-growth ratio of 5.43 and a beta of 0.97. 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.

Costco Wholesale Dividend Announcement

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

Insider Activity

In other news, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the sale, the director directly owned 11,531 shares of the company's stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at $2,343,222.10. This trade represents 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 5,147 shares of company stock valued at $5,031,130. Company insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on COST shares. Morgan Stanley raised their target price on 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. JPMorgan Chase & Co. raised their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research report on Thursday, May 29th. Loop Capital cut their price objective on 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, Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus target price of $1,056.67.

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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