Shell Asset Management Co. Has $38.45 Million Stock Position in Costco Wholesale Corporation $COST

Key Points

• Shell Asset Management Co. increased its stake in Costco Wholesale by 22.3% during the second quarter, holding a total of 38,839 shares valued at approximately $38.45 million.
• Costco reported an EPS of $5.87 for the last quarter, exceeding expectations, with a revenue of $86.16 billion, marking an 8.1% year-over-year increase.
• Multiple analysts have revised their price targets for Costco, with a current consensus rating of "Moderate Buy" and an average target price of $1,067.19.

Shell Asset Management Co. grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 22.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 38,839 shares of the retailer's stock after acquiring an additional 7,076 shares during the period. Costco Wholesale comprises about 1.3% of Shell Asset Management Co.'s holdings, making the stock its 10th largest holding. Shell Asset Management Co.'s holdings in Costco Wholesale were worth $38,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fishman Jay A Ltd. MI grew its holdings in shares of Costco Wholesale by 3.5% during the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer's stock worth $16,718,000 after acquiring an additional 575 shares during the period. Personal CFO Solutions LLC grew its stake in shares of Costco Wholesale by 12.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after buying an additional 167 shares during the last quarter. F&V Capital Management LLC purchased a new stake in shares of Costco Wholesale in the 1st quarter worth approximately $236,000. Graybill Wealth Management LTD. purchased a new stake in shares of Costco Wholesale in the 1st quarter worth approximately $3,095,000. Finally, Rossmore Private Capital grew its stake in shares of Costco Wholesale by 0.9% in the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock worth $6,325,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on COST shares. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, September 24th. Morgan Stanley cut their price target on 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. The Goldman Sachs Group upped their price target on Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Daiwa Capital Markets cut their price target on Costco Wholesale from $1,005.00 to $947.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 30th. Finally, Truist Financial cut their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a research note on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,067.19.

Costco Wholesale Stock Performance

COST stock opened at $914.80 on Wednesday. The company has a market cap of $405.70 billion, a P/E ratio of 50.24, a price-to-earnings-growth ratio of 5.52 and a beta of 0.98. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The stock's fifty day moving average price is $952.69 and its 200-day moving average price is $971.76.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.81 by $0.06. The firm had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the business posted $5.15 EPS. On average, equities analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 28.56%.

Insider Transactions at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Russell D. Miller sold 3,381 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock worth $7,588,685 in the last ninety days. Insiders own 0.18% of the company's stock.

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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