Rinkey Investments Boosts Stake in Costco Wholesale Corporation $COST

Rinkey Investments lifted its position in Costco Wholesale Corporation (NASDAQ:COST) by 4.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,193 shares of the retailer’s stock after purchasing an additional 93 shares during the quarter. Costco Wholesale comprises 0.7% of Rinkey Investments’ holdings, making the stock its 29th largest position. Rinkey Investments’ holdings in Costco Wholesale were worth $2,171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bulwark Capital Corp acquired a new stake in shares of Costco Wholesale in the second quarter worth $25,000. Soundwatch Capital LLC grew its position in Costco Wholesale by 635.7% during the 2nd quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer’s stock worth $25,000 after purchasing an additional 2,206 shares during the period. LFA Lugano Financial Advisors SA purchased a new position in shares of Costco Wholesale during the 2nd quarter valued at about $31,000. Anderson Financial Strategies LLC lifted its holdings in shares of Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after buying an additional 36 shares during the period. Finally, Financial Connections Group Inc. boosted its stake in shares of Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $912.90 on Friday. The stock has a market capitalization of $404.58 billion, a P/E ratio of 50.13, a PEG ratio of 5.54 and a beta of 0.98. The business has a 50 day simple moving average of $922.57 and a two-hundred day simple moving average of $959.38. Costco Wholesale Corporation has a 12 month low of $871.71 and a 12 month 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 announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same quarter last year, the firm posted $5.15 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insider Activity at Costco Wholesale

In other news, EVP William Richard Wilcox sold 2,400 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 2,000 shares in the company, valued at approximately $1,860,260. This trade represents a 54.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claudine Adamo sold 2,700 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the transaction, the executive vice president directly owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. This represents a 28.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In 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.

Wall Street Analysts Forecast Growth

COST has been the topic of several recent research reports. Mizuho lowered their price objective on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. The Goldman Sachs Group lifted their price objective on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a report on Friday, September 26th. Citigroup dropped their target price on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. DA Davidson reaffirmed a “neutral” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a report on Friday, September 26th. Finally, Argus raised their price objective on Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, September 29th. Eighteen investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $1,025.07.

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.