Waterfront Wealth Inc. Acquires New Stake in Costco Wholesale Corporation $COST

Waterfront Wealth Inc. acquired a new stake in Costco Wholesale Corporation (NASDAQ:COST) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 324 shares of the retailer’s stock, valued at approximately $321,000.

Other large investors also recently bought and sold shares of the company. Bulwark Capital Corp purchased a new stake in Costco Wholesale during the 2nd quarter worth about $25,000. Anderson Financial Strategies LLC increased its holdings in Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after purchasing an additional 36 shares during the period. Financial Connections Group Inc. increased its holdings in Costco Wholesale by 975.0% during the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after purchasing an additional 39 shares during the period. Frazier Financial Advisors LLC increased its holdings in Costco Wholesale by 72.0% during the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock worth $43,000 after purchasing an additional 18 shares during the period. Finally, eCIO Inc. purchased a new stake in Costco Wholesale during the 1st quarter worth about $48,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In related news, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the transaction, the executive vice president directly owned 9,740 shares of the company’s stock, valued at $8,912,100. This trade represents a 25.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares of the company’s stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 7,920 shares of company stock valued at $7,373,175. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Down 1.3%

COST opened at $912.42 on Thursday. The business has a 50 day moving average price of $941.47 and a two-hundred day moving average price of $971.27. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The company has a market cap of $404.37 billion, a PE ratio of 50.11, a P/E/G ratio of 5.61 and a beta of 0.98. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $5.15 EPS. As a group, research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on COST shares. Sanford C. Bernstein upped their price target on Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Roth Capital set a $907.00 price objective on Costco Wholesale and gave the stock a “neutral” rating in a research report on Friday, September 26th. Erste Group Bank cut Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Mizuho lowered their price objective on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,068.15.

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.