LVZ Inc. Buys 103 Shares of Costco Wholesale Corporation $COST

LVZ Inc. increased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 11.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,038 shares of the retailer’s stock after purchasing an additional 103 shares during the period. LVZ Inc.’s holdings in Costco Wholesale were worth $1,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock worth $18,165,000 after acquiring an additional 2,172 shares during the period. Revolve Wealth Partners LLC lifted its stake in Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock worth $1,029,000 after acquiring an additional 130 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in Costco Wholesale by 45.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer’s stock worth $107,436,000 after acquiring an additional 36,384 shares during the period. Shufro Rose & Co. LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $618,000. Finally, Heck Capital Advisors LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $236,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on COST. Truist Financial increased their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a report on Friday, May 30th. Wolfe Research assumed coverage on Costco Wholesale in a research report on Thursday, September 18th. They set a “peer perform” rating on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Wednesday, August 27th. Morgan Stanley increased their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Finally, Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,061.30.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $943.26 on Tuesday. The company has a market cap of $418.32 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 5.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The stock’s 50 day simple moving average is $957.21 and its two-hundred day simple moving average is $971.17. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s payout ratio is currently 29.50%.

Insider Activity at Costco Wholesale

In other news, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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.