Three Cord True Wealth Management LLC Purchases Shares of 222 Costco Wholesale Corporation $COST

Three Cord True Wealth Management LLC purchased a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 222 shares of the retailer’s stock, valued at approximately $220,000. Costco Wholesale comprises approximately 0.2% of Three Cord True Wealth Management LLC’s portfolio, making the stock its 26th biggest position.

Several other institutional investors also recently modified their holdings of the stock. Bulwark Capital Corp purchased a new stake in shares of Costco Wholesale during the 2nd quarter valued at $25,000. Anderson Financial Strategies LLC increased its stake in Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after acquiring an additional 36 shares during the last quarter. Financial Connections Group Inc. raised its position in Costco Wholesale by 975.0% during the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock valued at $42,000 after purchasing an additional 39 shares in the last quarter. Frazier Financial Advisors LLC lifted its stake in Costco Wholesale by 72.0% during the second 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 last quarter. Finally, eCIO Inc. purchased a new position in shares of Costco Wholesale in the 1st quarter worth about $48,000. 68.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tiffany Marie Barbre sold 1,239 shares of Costco Wholesale stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the sale, the insider directly owned 5,155 shares in the company, valued at $4,817,966.10. The trade was a 19.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 7,920 shares of company stock worth $7,373,175. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

COST has been the topic of a number of research reports. Argus raised their price objective on Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, September 29th. Citigroup decreased their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Daiwa Capital Markets cut their price objective on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a research note on Tuesday, September 30th. JPMorgan Chase & Co. reduced their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Costco Wholesale in a research note on Thursday, October 9th. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,064.85.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $935.03 on Thursday. The firm has a market cap of $414.39 billion, a PE ratio of 51.35, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98. The company’s fifty day simple moving average is $938.96 and its two-hundred day simple moving average is $969.33. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 12-month low of $871.71 and a 12-month high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.06. The company had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.Costco Wholesale’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $5.15 earnings per share. As a group, equities analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, October 31st. Costco Wholesale’s dividend payout ratio is currently 28.56%.

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.