Strategic Planning Group LLC Boosts Stake in Costco Wholesale Corporation $COST

Key Points

• Strategic Planning Group LLC boosted its stake in Costco Wholesale Corporation by 4.5%, now owning 15,160 shares valued at approximately $15 million, making it the firm's 14th largest holding.
• Recent insider trading saw EVP Yoram Rubanenko sell 4,000 shares, resulting in a 40.92% decrease in his position, while EVP Teresa A. Jones also sold 600 shares, representing a 20.26% decrease.
• Costco declared a quarterly dividend of $1.30 per share, with an annualized payout of $5.20, reflecting a yield of 0.5%.

Strategic Planning Group LLC increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,160 shares of the retailer's stock after purchasing an additional 654 shares during the quarter. Costco Wholesale accounts for 2.4% of Strategic Planning Group LLC's investment portfolio, making the stock its 14th biggest holding. Strategic Planning Group LLC's holdings in Costco Wholesale were worth $15,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COST. Bulwark Capital Corp acquired a new position in Costco Wholesale during the second quarter worth $25,000. Anderson Financial Strategies LLC raised its holdings in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after purchasing an additional 36 shares during the last quarter. eCIO Inc. acquired a new position in Costco Wholesale during the first quarter worth $48,000. Aspect Partners LLC raised its holdings in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Costco Wholesale during the fourth quarter worth $58,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the firm's 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 completion of the sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president 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 position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Costco Wholesale Price Performance

COST stock opened at $951.16 on Monday. 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 Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The firm has a market cap of $421.82 billion, a P/E ratio of 53.95, a price-to-earnings-growth ratio of 5.34 and a beta of 0.97. The stock has a 50-day simple moving average of $957.97 and a 200-day simple moving average of $971.32.

Costco Wholesale Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wolfe Research assumed coverage on Costco Wholesale in a report on Thursday. They set a "peer perform" rating for the company. Truist Financial boosted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Loop Capital cut their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. boosted their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus price target of $1,056.67.

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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