LCM Capital Management Inc Purchases 14 Shares of Costco Wholesale Corporation $COST

LCM Capital Management Inc grew its position in Costco Wholesale Corporation (NASDAQ:COST) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,972 shares of the retailer’s stock after acquiring an additional 14 shares during the period. Costco Wholesale comprises about 1.0% of LCM Capital Management Inc’s portfolio, making the stock its 17th largest holding. LCM Capital Management Inc’s holdings in Costco Wholesale were worth $1,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Rooted Wealth Advisors Inc. boosted its holdings in shares of Costco Wholesale by 16.6% during the 2nd quarter. Rooted Wealth Advisors Inc. now owns 514 shares of the retailer’s stock worth $499,000 after buying an additional 73 shares during the period. Lewis Asset Management LLC boosted its holdings in shares of Costco Wholesale by 127.2% during the 2nd quarter. Lewis Asset Management LLC now owns 2,822 shares of the retailer’s stock worth $2,794,000 after buying an additional 1,580 shares during the period. Toth Financial Advisory Corp boosted its holdings in shares of Costco Wholesale by 5.4% during the 2nd quarter. Toth Financial Advisory Corp now owns 1,806 shares of the retailer’s stock worth $1,788,000 after buying an additional 92 shares during the period. Edge Wealth Management LLC bought a new stake in shares of Costco Wholesale during the 2nd quarter worth about $216,000. Finally, Southland Equity Partners LLC boosted its holdings in shares of Costco Wholesale by 7.8% during the 2nd quarter. Southland Equity Partners LLC now owns 704 shares of the retailer’s stock worth $697,000 after buying an additional 51 shares during the period. Institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on COST shares. Morgan Stanley lifted their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Wolfe Research began coverage on shares of Costco Wholesale in a report on Thursday. They set a “peer perform” rating for the company. Truist Financial boosted their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a report on Friday, May 30th. Evercore ISI cut their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,056.67.

Insiders Place Their Bets

In related news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Down 0.1%

Shares of NASDAQ COST opened at $951.16 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The firm has a 50 day moving average price of $957.97 and a two-hundred day moving average price of $971.32. The stock has a market cap of $421.82 billion, a P/E ratio of 53.95, a price-to-earnings-growth ratio of 5.34 and a beta of 0.97.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s dividend payout ratio is currently 29.50%.

About Costco Wholesale

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.