Spectrum Planning & Advisory Services Inc. Raises Holdings in Costco Wholesale Corporation $COST

Spectrum Planning & Advisory Services Inc. increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 24.7% during the second quarter, HoldingsChannel.com reports. The firm owned 424 shares of the retailer’s stock after buying an additional 84 shares during the period. Spectrum Planning & Advisory Services Inc.’s holdings in Costco Wholesale were worth $420,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Personal CFO Solutions LLC lifted its holdings in Costco Wholesale by 12.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock worth $1,436,000 after purchasing an additional 167 shares in the last quarter. F&V Capital Management LLC purchased a new stake in Costco Wholesale during the 1st quarter worth about $236,000. Graybill Wealth Management LTD. purchased a new stake in Costco Wholesale during the 1st quarter worth about $3,095,000. Rossmore Private Capital lifted its holdings in Costco Wholesale by 0.9% during the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock worth $6,325,000 after purchasing an additional 62 shares in the last quarter. Finally, Curat Global LLC purchased a new stake in shares of Costco Wholesale in the 1st quarter valued at about $241,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $945.27 on Thursday. 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 firm has a market capitalization of $419.21 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 5.30 and a beta of 0.97. The business’s 50-day moving average price is $956.61 and its 200-day moving average price is $970.80. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23.

Costco Wholesale Dividend Announcement

The company also recently disclosed 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 was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is 29.50%.

Insider Activity

In related news, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 directly owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the firm’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 value of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on COST shares. Truist Financial raised their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a report on Thursday, May 29th. Erste Group Bank cut Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Morgan Stanley raised their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Friday, May 30th. Finally, Loop Capital lowered their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,061.30.

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.