Janney Montgomery Scott LLC Purchases 2,444 Shares of Costco Wholesale Corporation $COST

Janney Montgomery Scott LLC lifted its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.9% during the second quarter, Holdings Channel reports. The institutional investor owned 132,882 shares of the retailer’s stock after buying an additional 2,444 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Costco Wholesale were worth $124,307,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Costco Wholesale in the fourth quarter worth $27,000. Lifetime Wealth Management P.C. acquired a new position in shares of Costco Wholesale during the fourth quarter worth $28,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at $28,000. Entrust Financial LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at $31,000. Finally, Joseph Group Capital Management acquired a new stake in shares of Costco Wholesale in the 4th quarter worth $33,000. Institutional investors own 68.48% of the company’s stock.

Insider Activity

In other news, Director Kenneth D. Denman sold 885 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $957.45, for a total value of $847,343.25. Following the completion of the transaction, the director directly owned 4,779 shares in the company, valued at $4,575,653.55. This trade represents a 15.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.10% of the stock is currently owned by insiders.

Costco Wholesale Price Performance

Shares of COST opened at $971.40 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 0.61. The company’s fifty day moving average price is $946.98 and its 200-day moving average price is $980.99. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,096.50. The firm has a market capitalization of $430.80 billion, a PE ratio of 48.86, a price-to-earnings-growth ratio of 4.51 and a beta of 0.87.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 28th. The retailer reported $4.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.94 by ($0.01). Costco Wholesale had a return on equity of 28.04% and a net margin of 3.01%.The firm had revenue of $70.53 billion during the quarter, compared to analysts’ expectations of $70.12 billion. During the same quarter last year, the business earned $4.28 EPS. On average, equities research analysts predict that Costco Wholesale Corporation will post 20.42 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 24th were issued a $1.47 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is currently 29.58%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on Costco Wholesale from $1,088.00 to $1,159.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Roth Capital raised their price target on Costco Wholesale from $769.00 to $781.00 and gave the stock a “sell” rating in a report on Friday, May 29th. Sanford C. Bernstein raised their price target on Costco Wholesale from $1,192.00 to $1,194.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,120.00 price target on shares of Costco Wholesale in a research note on Thursday, August 6th. Finally, Oppenheimer upped their price objective on shares of Costco Wholesale from $1,100.00 to $1,160.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,059.53.

Costco Wholesale Company Profile

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.