IMG Wealth Management Inc. Buys 22 Shares of Costco Wholesale Corporation $COST

IMG Wealth Management Inc. lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 8.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 277 shares of the retailer’s stock after acquiring an additional 22 shares during the period. IMG Wealth Management Inc.’s holdings in Costco Wholesale were worth $274,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Fishman Jay A Ltd. MI raised its position in Costco Wholesale by 3.5% in the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock worth $16,718,000 after purchasing an additional 575 shares during the period. Independent Solutions Wealth Management LLC raised its position in Costco Wholesale by 0.3% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock worth $20,430,000 after purchasing an additional 53 shares during the period. Personal CFO Solutions LLC raised its position in Costco Wholesale by 12.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock worth $1,436,000 after purchasing an additional 167 shares during the period. Graybill Wealth Management LTD. purchased a new position in Costco Wholesale in the 1st quarter worth $3,095,000. Finally, Rossmore Private Capital raised its position in Costco Wholesale by 0.9% in the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock worth $6,325,000 after purchasing an additional 62 shares during the period. 68.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

COST has been the topic of a number of analyst reports. Roth Capital set a $907.00 price objective on shares of Costco Wholesale and gave the company a “neutral” rating in a research report on Friday, September 26th. Evercore ISI lowered their price objective on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. Daiwa Capital Markets lowered 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. BTIG Research started coverage on shares of Costco Wholesale in a research note on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 price objective for the company. Finally, Citigroup lowered their price objective on shares of 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. Nineteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $1,068.15.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $936.11 on Tuesday. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The company’s 50-day moving average is $948.46 and its 200 day moving average is $971.70. The stock has a market capitalization of $414.86 billion, a P/E ratio of 51.41, a P/E/G ratio of 5.68 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. During the same quarter in the previous year, the company earned $5.15 earnings per share. Costco Wholesale’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Insider Activity

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was 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. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by 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.