Sage Mountain Advisors LLC Has $3.15 Million Holdings in Costco Wholesale Corporation $COST

Key Points

• Sage Mountain Advisors LLC increased its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 17.2% during the second quarter, owning a total of 3,182 shares worth $3.15 million at the end of the reporting period.
• Costco reported a net revenue of $86.16 billion for the quarter, beating analyst estimates and achieving an 8.1% year-over-year revenue growth.
• The company declared a quarterly dividend of $1.30, payable on November 14th, reflecting an annualized yield of 0.6% with a payout ratio of 28.56%.

Sage Mountain Advisors LLC boosted its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 17.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,182 shares of the retailer's stock after buying an additional 466 shares during the quarter. Sage Mountain Advisors LLC's holdings in Costco Wholesale were worth $3,150,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of COST. Nuveen LLC acquired a new stake in Costco Wholesale in the first quarter valued at about $3,461,159,000. Kingstone Capital Partners Texas LLC boosted its stake in Costco Wholesale by 418,980.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 2,359,422 shares of the retailer's stock valued at $2,335,686,000 after buying an additional 2,358,859 shares in the last quarter. Vanguard Group Inc. boosted its stake in Costco Wholesale by 1.0% in the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock valued at $40,332,515,000 after buying an additional 443,101 shares in the last quarter. National Bank of Canada FI boosted its stake in Costco Wholesale by 84.0% in the first quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock valued at $768,114,000 after buying an additional 370,806 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in Costco Wholesale by 2,369.5% in the second quarter. Valeo Financial Advisors LLC now owns 323,288 shares of the retailer's stock valued at $320,036,000 after buying an additional 310,197 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of COST opened at $932.14 on Friday. Costco Wholesale Corporation has a 52-week low of $867.34 and a 52-week high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The business's 50 day moving average price is $945.23 and its two-hundred day moving average price is $971.67. The firm has a market cap of $413.11 billion, a PE ratio of 51.19, a price-to-earnings-growth ratio of 5.72 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly 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. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The firm had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same period in the previous year, the firm earned $5.15 earnings per share. The company's revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale's payout ratio is 28.56%.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the business's stock in a transaction that occurred on Monday, September 29th. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 2,700 shares of the company's stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the transaction, the executive vice president directly owned 6,851 shares in the company, valued at $6,410,343.68. The trade was a 28.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,920 shares of company stock valued at $7,373,175 in the last ninety days. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup cut their price target on Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating on the stock in a research note on Monday, September 29th. Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, September 24th. BTIG Research assumed coverage on Costco Wholesale in a research note on Tuesday, October 14th. They set a "buy" rating and a $1,115.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a research note on Friday, September 26th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $1,130.00 target price on shares of Costco Wholesale in a report on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,068.15.

About Costco Wholesale

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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