Costco Wholesale Corporation $COST Stake Boosted by Sweeney & Michel LLC

Key Points

• Sweeney & Michel LLC increased its holdings in Costco Wholesale Corporation by 114.4% after purchasing an additional 3,251 shares, bringing their total ownership to 6,094 shares valued at approximately $5,913,000.
• The company declared a quarterly dividend of $1.30, with a 0.5% dividend yield, and a payout ratio of 29.50%.
• Despite recent share price fluctuations, Costco holds a market cap of $421.82 billion and a consensus rating of "Moderate Buy" from analysts, with an average target price of $1,056.67.

Sweeney & Michel LLC boosted its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 114.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,094 shares of the retailer's stock after acquiring an additional 3,251 shares during the period. Costco Wholesale comprises 2.1% of Sweeney & Michel LLC's investment portfolio, making the stock its 13th biggest holding. Sweeney & Michel LLC's holdings in Costco Wholesale were worth $5,913,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. LCM Capital Management Inc raised its stake in Costco Wholesale by 0.7% in the second quarter. LCM Capital Management Inc now owns 1,972 shares of the retailer's stock valued at $1,952,000 after buying an additional 14 shares in the last quarter. Rooted Wealth Advisors Inc. boosted its holdings in Costco Wholesale by 16.6% in the second quarter. Rooted Wealth Advisors Inc. now owns 514 shares of the retailer's stock valued at $499,000 after purchasing an additional 73 shares in the last quarter. Lewis Asset Management LLC raised its holdings in Costco Wholesale by 127.2% during the second quarter. Lewis Asset Management LLC now owns 2,822 shares of the retailer's stock worth $2,794,000 after purchasing an additional 1,580 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in shares of Costco Wholesale by 5.4% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,806 shares of the retailer's stock valued at $1,788,000 after buying an additional 92 shares in the last quarter. Finally, Edge Wealth Management LLC acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at $216,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Costco Wholesale stock traded down $7.90 during trading hours on Monday, hitting $943.26. The stock had a trading volume of 2,781,931 shares, compared to its average volume of 1,990,076. The stock has a market capitalization of $418.32 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 5.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23. The stock's fifty day moving average is $957.21 and its two-hundred day moving average is $971.17.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COST. Morgan Stanley boosted their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Wolfe Research initiated coverage on shares of Costco Wholesale in a research report on Thursday. They set a "peer perform" rating on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,056.67.

Insiders Place Their Bets

In related news, EVP Yoram Rubanenko sold 4,000 shares of the 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 of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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.