Lewis Asset Management LLC Buys 1,580 Shares of Costco Wholesale Corporation $COST

Lewis Asset Management LLC increased its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 127.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,822 shares of the retailer’s stock after purchasing an additional 1,580 shares during the quarter. Costco Wholesale makes up 1.3% of Lewis Asset Management LLC’s investment portfolio, making the stock its 16th biggest holding. Lewis Asset Management LLC’s holdings in Costco Wholesale were worth $2,794,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in COST. Corps Capital Advisors LLC raised its holdings in shares of Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after purchasing an additional 10 shares during the period. Covestor Ltd grew its position in shares of Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after acquiring an additional 10 shares during the period. Rooted Wealth Advisors Inc. boosted its holdings in Costco Wholesale by 2.6% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer’s stock worth $404,000 after buying an additional 11 shares during the period. Bank & Trust Co boosted its holdings in Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock worth $61,000 after buying an additional 11 shares during the period. Finally, Amplius Wealth Advisors LLC boosted its holdings in Costco Wholesale by 1.3% in the 1st quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock valued at $819,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% 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.

Analysts Set New Price Targets

A number of equities analysts recently commented on COST shares. JPMorgan Chase & Co. lifted their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a report on Thursday, May 29th. Erste Group Bank lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Wall Street Zen upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Truist Financial upped their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $1,056.67.

Costco Wholesale Trading Down 0.1%

Shares of COST opened at $951.16 on Friday. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The company has a market cap of $421.82 billion, a P/E ratio of 53.95, a P/E/G ratio of 5.34 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $957.97 and its 200-day simple moving average is $971.70.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 29.50%.

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.