Perennial Investment Advisors LLC Increases Stock Holdings in Costco Wholesale Corporation $COST

Perennial Investment Advisors LLC grew its position in Costco Wholesale Corporation (NASDAQ:COST) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,167 shares of the retailer’s stock after purchasing an additional 150 shares during the period. Perennial Investment Advisors LLC’s holdings in Costco Wholesale were worth $4,126,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peterson Wealth Services raised its stake in shares of Costco Wholesale by 0.5% in the 2nd quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock valued at $13,479,000 after acquiring an additional 72 shares during the period. Fishman Jay A Ltd. MI raised its position in Costco Wholesale by 3.5% in the second quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock valued at $16,718,000 after purchasing an additional 575 shares during the period. Independent Solutions Wealth Management LLC lifted its stake in Costco Wholesale by 0.3% during the second 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 in the last quarter. Laffer Tengler Investments Inc. boosted its position in shares of Costco Wholesale by 22.7% during the second quarter. Laffer Tengler Investments Inc. now owns 5,903 shares of the retailer’s stock worth $5,844,000 after buying an additional 1,092 shares during the period. Finally, Rossmore Private Capital grew its stake in shares of Costco Wholesale by 0.9% in the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock valued at $6,325,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the company’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 completion of the sale, the executive vice president directly owned 2,362 shares of the company’s stock, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claudine Adamo sold 2,700 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the sale, the executive vice president directly owned 6,851 shares of the company’s stock, valued at $6,410,343.68. The trade was a 28.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 10,320 shares of company stock valued at $9,605,487. 0.18% of the stock is owned by insiders.

Costco Wholesale Trading Down 1.1%

Shares of Costco Wholesale stock opened at $912.59 on Tuesday. The company has a fifty day simple moving average of $933.74 and a 200-day simple moving average of $965.75. Costco Wholesale Corporation has a 12-month low of $871.71 and a 12-month high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The stock has a market cap of $404.44 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 5.54 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data 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. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same quarter last year, the company posted $5.15 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Analyst Ratings Changes

COST has been the subject of several recent research reports. Sanford C. Bernstein lowered their price objective on shares of Costco Wholesale from $1,140.00 to $1,134.00 and set an “outperform” rating for the company in a research note on Tuesday, November 4th. Citigroup reduced their price objective on 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. DA Davidson reissued a “neutral” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research note on Friday, September 26th. BTIG Research assumed coverage on Costco Wholesale in a report on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 price target on the stock. Finally, Truist Financial decreased their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research note 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,063.88.

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.