Concurrent Investment Advisors LLC Purchases 4,257 Shares of Costco Wholesale Corporation $COST

Concurrent Investment Advisors LLC raised its stake in Costco Wholesale Corporation (NASDAQ:COST) by 28.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,292 shares of the retailer’s stock after acquiring an additional 4,257 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Costco Wholesale were worth $19,098,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bulwark Capital Corp bought a new position in shares of Costco Wholesale in the second quarter worth about $25,000. Anderson Financial Strategies LLC lifted its holdings in shares of Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after acquiring an additional 36 shares during the last quarter. Financial Connections Group Inc. lifted its holdings in shares of Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after acquiring an additional 39 shares during the last quarter. eCIO Inc. bought a new position in shares of Costco Wholesale in the first quarter worth about $48,000. Finally, Aspect Partners LLC lifted its holdings in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after acquiring an additional 11 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on COST shares. Daiwa Capital Markets lowered their price objective on 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. Morgan Stanley lowered their price objective on 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. 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 note on Friday, September 26th. Citigroup lowered their price objective on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,130.00 price objective on shares of Costco Wholesale in a research note on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,066.23.

Insider Transactions at Costco Wholesale

In other news, 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 of the company’s stock, valued at $8,912,100. This trade represents a 25.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,981 shares of company stock valued at $7,588,685 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Down 1.4%

Shares of NASDAQ COST opened at $930.01 on Friday. The company has a market capitalization of $412.16 billion, a P/E ratio of 51.07, a price-to-earnings-growth ratio of 5.64 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. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The company’s 50 day moving average price is $952.05 and its 200-day moving average price is $971.77.

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

Costco Wholesale Dividend Announcement

The business 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 of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is 28.56%.

Costco Wholesale Company 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.