Index Fund Advisors Inc. Invests $10.71 Million in Costco Wholesale Corporation $COST

Index Fund Advisors Inc. purchased a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST) in the second quarter, HoldingsChannel.com reports. The firm purchased 10,814 shares of the retailer’s stock, valued at approximately $10,706,000. Costco Wholesale accounts for approximately 0.6% of Index Fund Advisors Inc.’s portfolio, making the stock its 15th largest holding.

Other large investors have also added to or reduced their stakes in 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 buying an additional 10 shares during the last quarter. Covestor Ltd boosted its stake in Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after purchasing an additional 10 shares during the period. Western Pacific Wealth Management LP boosted its stake in Costco Wholesale by 0.5% during the 1st quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer’s stock valued at $1,925,000 after purchasing an additional 11 shares during the period. MOKAN Wealth Management Inc. boosted its stake in Costco Wholesale by 0.4% during the 1st quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock valued at $2,499,000 after purchasing an additional 11 shares during the period. Finally, Aspect Partners LLC boosted its stake in Costco Wholesale by 24.4% during the 1st 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 period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 1.4%

COST stock opened at $930.01 on Monday. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The company has a market capitalization of $412.16 billion, a price-to-earnings ratio of 51.07, a price-to-earnings-growth ratio of 5.64 and a beta of 0.98. The firm’s 50-day moving average is $952.05 and its two-hundred day moving average is $972.00. 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) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the previous year, the firm earned $5.15 EPS. Costco Wholesale’s revenue was up 8.1% on a year-over-year basis. On average, analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s payout ratio is presently 28.56%.

Insider Buying and Selling

In related news, EVP Teresa A. Jones sold 600 shares of the business’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 directly owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COST shares. Oppenheimer reissued an “outperform” rating and set a $1,130.00 target price on shares of Costco Wholesale in a research note on Friday, September 26th. Erste Group Bank lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 target price on shares of Costco Wholesale in a research note on Wednesday, September 24th. Evercore ISI dropped their price target on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,066.23.

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.