State of Alaska Department of Revenue Has $61.21 Million Position in Costco Wholesale Corporation $COST

Key Points

• The State of Alaska Department of Revenue increased its stake in Costco Wholesale Corporation by 3.1% in Q2, owning 61,834 shares valued at approximately $61.21 million.
• Costco reported quarterly earnings of $5.87 EPS, exceeding the consensus estimate by $0.06, with revenues up by 8.1% year-over-year to $86.16 billion.
• Analysts have set a consensus price target of $1,069.58 for Costco, with a mix of "Buy" and "Hold" ratings from 27 research analysts.

State of Alaska Department of Revenue increased its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,834 shares of the retailer's stock after buying an additional 1,860 shares during the period. Costco Wholesale accounts for approximately 0.7% of State of Alaska Department of Revenue's investment portfolio, making the stock its 18th biggest holding. State of Alaska Department of Revenue's holdings in Costco Wholesale were worth $61,211,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Bulwark Capital Corp acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $25,000. Anderson Financial Strategies LLC grew its stake in shares of Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after buying an additional 36 shares during the period. eCIO Inc. acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at about $48,000. Aspect Partners LLC grew its stake in shares of Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at about $59,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $915.95 on Friday. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The company's 50 day moving average price is $955.70 and its two-hundred day moving average price is $970.76. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The stock has a market cap of $406.20 billion, a P/E ratio of 50.30, a P/E/G ratio of 5.30 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 31.10%. The firm had revenue of $86.16 billion for the quarter, compared to analysts' expectations of $86.01 billion. During the same quarter last year, the firm earned $5.15 EPS. The company's quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is currently 28.56%.

Analysts Set New Price Targets

Several analysts have recently commented on COST shares. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Wednesday. Sanford C. Bernstein lifted their price target on Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an "outperform" rating in a research note on Friday. DA Davidson reiterated a "neutral" rating and set a $1,000.00 price target on shares of Costco Wholesale in a research note on Friday. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Wolfe Research began coverage on Costco Wholesale in a research note on Thursday, September 18th. They set a "peer perform" rating for the company. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus price target of $1,069.58.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares of the company's stock, 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is 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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