Capital Market Strategies LLC Boosts Stock Position in Costco Wholesale Co. (NASDAQ:COST)

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Capital Market Strategies LLC raised its stake in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,959 shares of the retailer’s stock after purchasing an additional 50 shares during the period. Costco Wholesale accounts for approximately 1.0% of Capital Market Strategies LLC’s investment portfolio, making the stock its 24th largest holding. Capital Market Strategies LLC’s holdings in Costco Wholesale were worth $939,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Thrive Wealth Management LLC grew its stake in Costco Wholesale by 37.3% in the second quarter. Thrive Wealth Management LLC now owns 537 shares of the retailer’s stock valued at $258,000 after purchasing an additional 146 shares during the last quarter. Soundmark Wealth Management LLC boosted its holdings in Costco Wholesale by 19.8% in the second quarter. Soundmark Wealth Management LLC now owns 888 shares of the retailer’s stock worth $425,000 after acquiring an additional 147 shares in the last quarter. MJP Associates Inc. ADV boosted its holdings in Costco Wholesale by 5.1% in the second quarter. MJP Associates Inc. ADV now owns 1,654 shares of the retailer’s stock worth $793,000 after acquiring an additional 80 shares in the last quarter. Eclectic Associates Inc. ADV boosted its holdings in Costco Wholesale by 4.9% in the second quarter. Eclectic Associates Inc. ADV now owns 721 shares of the retailer’s stock worth $346,000 after acquiring an additional 34 shares in the last quarter. Finally, Norman Fields Gottscho Capital Management LLC boosted its holdings in Costco Wholesale by 1.3% in the second quarter. Norman Fields Gottscho Capital Management LLC now owns 62,793 shares of the retailer’s stock worth $30,095,000 after acquiring an additional 834 shares in the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Richard A. Galanti sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $505.60, for a total value of $505,600.00. Following the transaction, the chief financial officer now owns 25,750 shares in the company, valued at $13,019,200. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Richard A. Galanti sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $505.60, for a total transaction of $505,600.00. Following the completion of the transaction, the chief financial officer now directly owns 25,750 shares of the company’s stock, valued at $13,019,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total value of $787,800.00. Following the transaction, the vice president now directly owns 36,230 shares of the company’s stock, valued at $19,027,996. The disclosure for this sale can be found here. Insiders have sold a total of 5,300 shares of company stock worth $2,609,904 over the last quarter. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

COST has been the subject of several recent analyst reports. Loop Capital lowered their price target on Costco Wholesale from $610.00 to $585.00 in a report on Thursday, September 1st. Jefferies Financial Group reissued a “buy” rating and issued a $580.00 price target on shares of Costco Wholesale in a report on Friday, July 29th. Truist Financial raised their price target on Costco Wholesale from $543.00 to $571.00 in a report on Thursday, August 4th. Robert W. Baird reaffirmed an “outperform” rating and set a $575.00 target price on shares of Costco Wholesale in a report on Friday, September 2nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $580.00 target price on shares of Costco Wholesale in a report on Monday, May 30th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $575.28.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $504.14 on Monday. The company has a market cap of $223.32 billion, a P/E ratio of 39.70, a P/E/G ratio of 3.80 and a beta of 0.70. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 52 week low of $406.51 and a 52 week high of $612.27. The business has a fifty day simple moving average of $529.88 and a 200-day simple moving average of $520.69.

Costco Wholesale Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date of this dividend was Thursday, July 28th. Costco Wholesale’s dividend payout ratio is presently 28.35%.

Costco Wholesale Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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