Tower Wealth Partners Inc. Acquires 30 Shares of Costco Wholesale Corporation $COST

Tower Wealth Partners Inc. grew its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 525 shares of the retailer’s stock after purchasing an additional 30 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Costco Wholesale were worth $520,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Omnia Family Wealth LLC raised its holdings in shares of Costco Wholesale by 17.5% in the 2nd quarter. Omnia Family Wealth LLC now owns 544 shares of the retailer’s stock valued at $539,000 after purchasing an additional 81 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in shares of Costco Wholesale by 4.3% in the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 10,175 shares of the retailer’s stock valued at $10,073,000 after purchasing an additional 422 shares in the last quarter. WJ Wealth Management LLC raised its holdings in shares of Costco Wholesale by 19.7% in the 2nd quarter. WJ Wealth Management LLC now owns 1,822 shares of the retailer’s stock valued at $1,804,000 after purchasing an additional 300 shares in the last quarter. Nvest Financial LLC raised its holdings in shares of Costco Wholesale by 9.1% in the 2nd quarter. Nvest Financial LLC now owns 3,037 shares of the retailer’s stock valued at $3,007,000 after purchasing an additional 253 shares in the last quarter. Finally, WealthPlan Investment Management LLC raised its holdings in shares of Costco Wholesale by 17.2% in the 2nd quarter. WealthPlan Investment Management LLC now owns 19,746 shares of the retailer’s stock valued at $19,548,000 after purchasing an additional 2,900 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction on 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 sale, the executive vice president directly owned 9,740 shares of the company’s stock, valued at $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 company’s stock in a transaction on 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 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. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on COST shares. Citigroup reduced their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Truist Financial reduced their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research note on Friday, September 26th. Morgan Stanley reduced their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company 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. Finally, The Goldman Sachs Group boosted their price objective 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. Twenty investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,068.04.

Costco Wholesale Trading Up 0.9%

Shares of Costco Wholesale stock opened at $954.99 on Thursday. 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 Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23. The firm has a market capitalization of $423.23 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 5.74 and a beta of 0.98. The firm’s 50 day simple moving average is $951.44 and its two-hundred day simple moving average is $971.75.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating 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 business had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same quarter in the prior year, the business posted $5.15 EPS. Costco Wholesale’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale’s dividend payout ratio is 28.56%.

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.