MOKAN Wealth Management Inc. Purchases 240 Shares of Costco Wholesale Corporation $COST

MOKAN Wealth Management Inc. raised its stake in Costco Wholesale Corporation (NASDAQ:COST) by 9.1% in the second quarter, Holdings Channel.com reports. The firm owned 2,878 shares of the retailer’s stock after acquiring an additional 240 shares during the period. Costco Wholesale makes up approximately 1.6% of MOKAN Wealth Management Inc.’s holdings, making the stock its 20th largest holding. MOKAN Wealth Management Inc.’s holdings in Costco Wholesale were worth $2,845,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Fishman Jay A Ltd. MI raised its stake in shares of Costco Wholesale by 3.5% in the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock valued at $16,718,000 after buying an additional 575 shares in the last quarter. Independent Solutions Wealth Management LLC grew its holdings in Costco Wholesale by 0.3% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock worth $20,430,000 after acquiring an additional 53 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in Costco Wholesale by 12.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock worth $1,436,000 after acquiring an additional 167 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in Costco Wholesale during the 1st quarter worth about $3,095,000. Finally, Rossmore Private Capital boosted its stake in shares of Costco Wholesale by 0.9% in the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock valued at $6,325,000 after purchasing an additional 62 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COST. Citigroup reduced their price objective on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. DA Davidson reiterated a “neutral” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a report on Friday, September 26th. Morgan Stanley lowered their target price on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the stock a “neutral” rating in a report on Friday, September 26th. Finally, Mizuho reduced their target price on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a research report on Thursday. Nineteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,066.23.

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 3,381 shares of the company’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 value of $3,093,615.00. Following the sale, the executive vice president directly owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the company’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 completion of the sale, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. The trade was 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 Stock Performance

Costco Wholesale stock opened at $930.01 on Monday. The business has a 50 day moving average of $952.05 and a 200-day moving average of $972.00. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The company has a market capitalization of $412.16 billion, a P/E ratio of 51.07, a P/E/G ratio of 5.64 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. During the same period in the prior year, the business posted $5.15 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. On average, equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business 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. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is presently 28.56%.

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.