Evolution Wealth Advisors LLC Buys Shares of 314 Costco Wholesale Corporation $COST

Evolution Wealth Advisors LLC purchased a new position in shares of Costco Wholesale Corporation (NASDAQ:COST) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 314 shares of the retailer’s stock, valued at approximately $311,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of 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 purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock valued at $1,029,000 after buying an additional 130 shares during the last quarter. Allen Capital Group LLC raised its stake in Costco Wholesale by 11.0% during the first quarter. Allen Capital Group LLC now owns 566 shares of the retailer’s stock valued at $535,000 after buying an additional 56 shares in the last quarter. Ascent Wealth Partners LLC lifted its holdings in Costco Wholesale by 2.9% during the 1st quarter. Ascent Wealth Partners LLC now owns 1,736 shares of the retailer’s stock worth $1,642,000 after buying an additional 49 shares during the last quarter. Finally, Graypoint LLC lifted its holdings in Costco Wholesale by 1.8% during the 1st quarter. Graypoint LLC now owns 3,278 shares of the retailer’s stock worth $3,101,000 after buying an additional 59 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on COST. Daiwa Capital Markets lowered their price target on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Morgan Stanley lowered their target price on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. JPMorgan Chase & Co. dropped their target price on shares of Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Truist Financial reduced their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research report on Friday, September 26th. Finally, Wolfe Research assumed coverage on shares of Costco Wholesale in a research report on Thursday, September 18th. They set a “peer perform” rating for the company. Nineteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $1,063.88.

Costco Wholesale Stock Up 1.2%

Costco Wholesale stock opened at $925.08 on Friday. The firm has a market capitalization of $409.98 billion, a P/E ratio of 50.80, a P/E/G ratio of 5.54 and a beta of 0.98. The company has a 50-day simple moving average of $935.74 and a 200-day simple moving average of $967.11. Costco Wholesale Corporation has a one year low of $871.71 and a one year high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The firm had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. During the same quarter in the prior year, the firm earned $5.15 EPS. Costco Wholesale’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share 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 given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.56%.

Insider Activity

In other Costco Wholesale news, EVP Claudine Adamo sold 2,700 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the completion of the transaction, the executive vice president owned 6,851 shares in the company, valued at approximately $6,410,343.68. The trade was a 28.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Russell D. Miller sold 3,381 shares of the firm’s 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 transaction, the executive vice president directly owned 9,740 shares in the company, valued at $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,320 shares of company stock worth $9,605,487 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

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.