Sacks & Associates LLC Buys New Shares in Costco Wholesale Corporation $COST

Sacks & Associates LLC purchased a new stake in Costco Wholesale Corporation (NASDAQ:COST) during the 2nd quarter, Holdings Channel reports. The firm purchased 1,250 shares of the retailer’s stock, valued at approximately $1,190,000. Costco Wholesale makes up about 0.8% of Sacks & Associates LLC’s portfolio, making the stock its 21st biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Costco Wholesale by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 10,388,519 shares of the retailer’s stock valued at $8,919,573,000 after purchasing an additional 26,690 shares during the last quarter. Morgan Stanley grew its stake in Costco Wholesale by 1.1% in the fourth quarter. Morgan Stanley now owns 9,523,423 shares of the retailer’s stock valued at $8,212,433,000 after purchasing an additional 107,775 shares in the last quarter. Bank of America Corp DE increased its position in shares of Costco Wholesale by 11.5% during the 1st quarter. Bank of America Corp DE now owns 7,515,031 shares of the retailer’s stock worth $7,488,203,000 after purchasing an additional 773,651 shares during the last quarter. Diamant Asset Management Inc. increased its position in shares of Costco Wholesale by 99,278.0% during the 1st quarter. Diamant Asset Management Inc. now owns 6,726,899 shares of the retailer’s stock worth $672,690,000 after purchasing an additional 6,720,130 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Costco Wholesale by 838.9% during the 4th quarter. Corient Private Wealth LLC now owns 6,125,405 shares of the retailer’s stock worth $5,282,182,000 after purchasing an additional 5,472,968 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Up 2.5%

COST stock opened at $971.40 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $430.80 billion, a PE ratio of 48.86, a PEG ratio of 4.51 and a beta of 0.87. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,096.50. The business’s 50 day simple moving average is $946.98 and its 200 day simple moving average is $980.99.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 28th. The retailer reported $4.93 earnings per share for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). Costco Wholesale had a net margin of 3.01% and a return on equity of 28.04%. The business had revenue of $70.53 billion during the quarter, compared to the consensus estimate of $70.12 billion. During the same quarter last year, the company posted $4.28 EPS. As a group, research analysts anticipate that Costco Wholesale Corporation will post 20.42 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were given a $1.47 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is presently 29.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on COST shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,120.00 price objective on shares of Costco Wholesale in a report on Thursday, August 6th. Bank of America upped their price target on shares of Costco Wholesale from $1,185.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Mizuho set a $1,100.00 price target on shares of Costco Wholesale in a research note on Monday, June 1st. Oppenheimer lifted their price objective on shares of Costco Wholesale from $1,100.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Finally, Royal Bank Of Canada initiated coverage on shares of Costco Wholesale in a research note on Monday, July 13th. They set a “sector perform” rating and a $1,000.00 price objective on the stock. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $1,059.53.

Insider Activity

In other news, Director Kenneth D. Denman sold 885 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $957.45, for a total transaction of $847,343.25. Following the completion of the sale, the director owned 4,779 shares in the company, valued at approximately $4,575,653.55. This trade represents a 15.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

About Costco Wholesale

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.