TTP Investments Inc. Invests $588,000 in Costco Wholesale Corporation $COST

TTP Investments Inc. purchased a new position in Costco Wholesale Corporation (NASDAQ:COST) during the second quarter, Holdings Channel reports. The institutional investor purchased 594 shares of the retailer’s stock, valued at approximately $588,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Corps Capital Advisors LLC lifted its position in shares of Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after purchasing an additional 10 shares during the period. Covestor Ltd lifted its position in shares of Costco Wholesale by 8.6% in the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after purchasing an additional 10 shares during the period. Rooted Wealth Advisors Inc. lifted its position in shares of Costco Wholesale by 2.6% during the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer’s stock valued at $404,000 after acquiring an additional 11 shares during the period. Bank & Trust Co lifted its position in shares of Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock valued at $61,000 after acquiring an additional 11 shares during the period. Finally, Amplius Wealth Advisors LLC lifted its position in shares of Costco Wholesale by 1.3% during the 1st quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock valued at $819,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the company’s 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 sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $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. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

COST has been the topic of a number of research reports. Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Evercore ISI dropped their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 17th. JPMorgan Chase & Co. boosted 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 research report on Thursday, August 7th. Loop Capital dropped their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Finally, Morgan Stanley boosted their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,056.67.

Costco Wholesale Price Performance

COST opened at $951.16 on Friday. The firm has a market cap of $421.82 billion, a P/E ratio of 53.95, a PEG ratio of 5.34 and a beta of 0.97. The firm has a 50-day moving average of $957.97 and a 200 day moving average of $971.70. 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 fifty-two week low of $867.16 and a fifty-two week high of $1,078.23.

Costco Wholesale Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.5%. Costco Wholesale’s dividend payout ratio is presently 29.50%.

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.