Global Strategic Investment Solutions LLC Raises Stock Holdings in Costco Wholesale Corporation $COST

Global Strategic Investment Solutions LLC boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.1% in the second quarter, Holdings Channel.com reports. The fund owned 1,587 shares of the retailer’s stock after acquiring an additional 18 shares during the quarter. Global Strategic Investment Solutions LLC’s holdings in Costco Wholesale were worth $1,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COST. Three Cord True Wealth Management LLC bought a new stake in shares of Costco Wholesale during the second quarter worth $220,000. Beacon Financial Advisory LLC lifted its holdings in Costco Wholesale by 21.3% during the 2nd quarter. Beacon Financial Advisory LLC now owns 975 shares of the retailer’s stock valued at $965,000 after buying an additional 171 shares in the last quarter. Simplicity Wealth LLC boosted its position in Costco Wholesale by 383.4% in the 2nd quarter. Simplicity Wealth LLC now owns 17,485 shares of the retailer’s stock valued at $17,309,000 after buying an additional 13,868 shares during the period. Brown Miller Wealth Management LLC grew its stake in Costco Wholesale by 24.8% in the 2nd quarter. Brown Miller Wealth Management LLC now owns 1,246 shares of the retailer’s stock worth $1,233,000 after acquiring an additional 248 shares in the last quarter. Finally, OLD National Bancorp IN increased its position in shares of Costco Wholesale by 36.3% during the second quarter. OLD National Bancorp IN now owns 32,322 shares of the retailer’s stock worth $31,997,000 after acquiring an additional 8,603 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of research reports. Citigroup lowered their price target on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Erste Group Bank downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Truist Financial cut their price target on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Sanford C. Bernstein increased their target price on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,130.00 price target on shares of Costco Wholesale in a report on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,067.19.

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,981 shares of company stock valued at $7,588,685 in the last ninety days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Down 0.2%

Costco Wholesale stock opened at $915.38 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The business’s 50-day simple moving average is $953.54 and its two-hundred day simple moving average is $972.15. The company has a market cap of $405.95 billion, a PE ratio of 50.27, a PEG ratio of 5.55 and a beta of 0.98. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last announced 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 firm had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. During the same period last year, the business posted $5.15 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s payout ratio is presently 28.56%.

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.