Elevation Point Wealth Partners LLC Has $1.20 Million Position in Costco Wholesale Corporation $COST

Elevation Point Wealth Partners LLC reduced its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 21.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,207 shares of the retailer’s stock after selling 323 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Costco Wholesale were worth $1,195,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Covestor Ltd boosted its stake 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 buying an additional 10 shares during the last quarter. Luminist Capital LLC boosted its holdings in Costco Wholesale by 9.4% in the 1st quarter. Luminist Capital LLC now owns 128 shares of the retailer’s stock worth $122,000 after buying an additional 11 shares during the period. Birchbrook Inc. grew its position in shares of Costco Wholesale by 2.5% in the first quarter. Birchbrook Inc. now owns 456 shares of the retailer’s stock valued at $431,000 after purchasing an additional 11 shares in the last quarter. Ridgewood Investments LLC grew its holdings in Costco Wholesale by 7.4% during the 2nd quarter. Ridgewood Investments LLC now owns 159 shares of the retailer’s stock valued at $157,000 after buying an additional 11 shares in the last quarter. Finally, Wagner Wealth Management LLC increased its holdings in Costco Wholesale by 3.4% during the 2nd quarter. Wagner Wealth Management LLC now owns 330 shares of the retailer’s stock worth $326,000 after acquiring an additional 11 shares during the period. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on COST. Wolfe Research initiated coverage on Costco Wholesale in a report on Thursday, September 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein cut their price target on shares of Costco Wholesale from $1,140.00 to $1,134.00 and set an “outperform” rating for the company in a research report on Tuesday, November 4th. Daiwa Capital Markets cut 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 report on Tuesday, September 30th. JPMorgan Chase & Co. cut their target price on Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Costco Wholesale in a research report on Monday. Eighteen analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,025.07.

Costco Wholesale Price Performance

COST opened at $908.26 on Friday. The stock has a 50-day moving average price of $923.33 and a 200-day moving average price of $960.10. The firm has a market cap of $402.52 billion, a PE ratio of 49.88, a P/E/G ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a 1 year low of $871.71 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.

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

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.56%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP William Richard Wilcox sold 2,400 shares of Costco Wholesale stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $930.13, for a total value of $2,232,312.00. Following the completion of the sale, the executive vice president owned 2,000 shares of the company’s stock, valued at approximately $1,860,260. The trade was a 54.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tiffany Marie Barbre sold 1,239 shares of Costco Wholesale stock in a transaction on Friday, October 24th. The stock was sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the sale, the insider directly owned 5,155 shares of the company’s stock, valued at $4,817,966.10. The trade was a 19.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 9,720 shares of company stock worth $9,010,257. Company 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.