Costco Wholesale Corporation $COST Stock Position Boosted by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 8.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 815 shares of the retailer’s stock after buying an additional 63 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Costco Wholesale were worth $807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COST. West Family Investments Inc. lifted its position in Costco Wholesale by 260.9% in the second quarter. West Family Investments Inc. now owns 2,306 shares of the retailer’s stock worth $2,283,000 after purchasing an additional 1,667 shares during the period. Williamson Legacy Group LLC raised its stake in shares of Costco Wholesale by 5.4% in the 2nd quarter. Williamson Legacy Group LLC now owns 1,284 shares of the retailer’s stock worth $1,271,000 after buying an additional 66 shares in the last quarter. Wealthquest Corp lifted its holdings in shares of Costco Wholesale by 16.1% in the second quarter. Wealthquest Corp now owns 288 shares of the retailer’s stock valued at $285,000 after buying an additional 40 shares during the period. Rinkey Investments lifted its holdings in shares of Costco Wholesale by 4.4% in the second quarter. Rinkey Investments now owns 2,193 shares of the retailer’s stock valued at $2,171,000 after buying an additional 93 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Costco Wholesale by 2.4% during the second quarter. Mackenzie Financial Corp now owns 166,398 shares of the retailer’s stock valued at $164,724,000 after buying an additional 3,823 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Up 0.5%

COST stock opened at $912.90 on Friday. 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 firm has a market capitalization of $404.58 billion, a P/E ratio of 50.13, a P/E/G ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a 52-week low of $871.71 and a 52-week high of $1,078.23. The company’s 50 day simple moving average is $922.57 and its 200-day simple moving average is $959.38.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate 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%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $5.15 EPS. As a group, equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, October 31st. Costco Wholesale’s dividend payout ratio is currently 28.56%.

Insiders Place Their Bets

In related news, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were 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 directly owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William Richard Wilcox sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the completion of the transaction, the executive vice president owned 2,000 shares in the company, valued at approximately $1,860,260. This represents a 54.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 9,720 shares of company stock valued at $9,010,257. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on COST shares. Morgan Stanley dropped their price target on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Truist Financial dropped their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a report on Friday, September 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Costco Wholesale in a report on Monday. Daiwa Capital Markets decreased their price target on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 30th. Finally, Citigroup cut their price objective on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Eighteen research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,025.07.

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.