Morey & Quinn Wealth Partners LLC Has $835,000 Stock Position in Costco Wholesale Corporation $COST

Morey & Quinn Wealth Partners LLC boosted its stake in Costco Wholesale Corporation (NASDAQ:COST) by 1.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 843 shares of the retailer’s stock after buying an additional 15 shares during the period. Morey & Quinn Wealth Partners LLC’s holdings in Costco Wholesale were worth $835,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its position in Costco Wholesale by 12.3% during 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 increased its position in Costco Wholesale by 13.1% during 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. GAMMA Investing LLC increased its position in Costco Wholesale by 12.6% during the first quarter. GAMMA Investing LLC now owns 8,628 shares of the retailer’s stock worth $8,160,000 after acquiring an additional 966 shares during the period. Curated Wealth Partners LLC increased its position in Costco Wholesale by 11.7% during the first quarter. Curated Wealth Partners LLC now owns 505 shares of the retailer’s stock worth $478,000 after acquiring an additional 53 shares during the period. Finally, Sanibel Captiva Trust Company Inc. increased its position in Costco Wholesale by 0.7% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 48,086 shares of the retailer’s stock worth $45,479,000 after acquiring an additional 312 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

COST opened at $914.80 on Thursday. The company’s 50 day moving average is $952.43 and its 200-day moving average is $971.37. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The company has a market cap of $405.69 billion, a P/E ratio of 50.24, a PEG ratio of 5.55 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results 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 net margin of 2.94% and a return on equity of 30.09%. The company had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same period last year, the company posted $5.15 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.56%.

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of the firm’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 sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares in the company, valued at approximately $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,981 shares of company stock worth $7,588,685. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the topic of a number of recent research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 24th. Evercore ISI lowered their price target on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Daiwa Capital Markets decreased their target price on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Argus raised their target price on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, September 29th. Finally, Truist Financial decreased their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a report on Friday, September 26th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,067.19.

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.