Viewpoint Investment Partners Corp Purchases 2,901 Shares of Costco Wholesale Corporation $COST

Key Points

• Viewpoint Investment Partners Corp increased its stake in Costco by 166.8%, acquiring an additional 2,901 shares, resulting in a total of 4,640 shares valued at approximately $4.6 million.
• Costco Wholesale recently reported a quarterly EPS of $5.87, exceeding estimates and reflecting an 8.1% year-over-year revenue increase to $86.16 billion.
• Several leading analysts have adjusted their target prices for Costco, with a consensus average target price now at $1,067.19 and a majority rating of "Buy."

Viewpoint Investment Partners Corp lifted its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 166.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,640 shares of the retailer's stock after acquiring an additional 2,901 shares during the period. Costco Wholesale accounts for approximately 2.5% of Viewpoint Investment Partners Corp's investment portfolio, making the stock its 10th biggest holding. Viewpoint Investment Partners Corp's holdings in Costco Wholesale were worth $4,593,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in COST. Bulwark Capital Corp purchased a new stake in Costco Wholesale in the second quarter valued at $25,000. Anderson Financial Strategies LLC boosted its holdings in Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after purchasing an additional 36 shares during the last quarter. eCIO Inc. purchased a new stake in Costco Wholesale in the first quarter valued at $48,000. Aspect Partners LLC boosted its holdings in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Costco Wholesale in the first quarter valued at $61,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COST has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of 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. Sanford C. Bernstein increased their target price on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. The Goldman Sachs Group increased their target price on shares of 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 lowered their target price on shares of Costco Wholesale from $1,005.00 to $947.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Eighteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,067.19.

Costco Wholesale Trading Down 0.9%

Shares of Costco Wholesale stock opened at $917.34 on Thursday. The firm has a market capitalization of $406.82 billion, a PE ratio of 50.38, a P/E/G ratio of 5.65 and a beta of 0.98. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The firm's 50-day moving average price is $954.29 and its 200 day moving average price is $971.03. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20.

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

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 issued a $1.30 dividend. 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 is presently 28.56%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares in the company, valued at approximately $8,912,100. This represents a 25.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction dated Wednesday, August 20th. The shares were 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 owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,981 shares of company stock worth $7,588,685. Insiders own 0.18% of the company's stock.

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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