Trueblood Wealth Management LLC Has $1.65 Million Stock Position in Costco Wholesale Corporation $COST

Trueblood Wealth Management LLC increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,662 shares of the retailer’s stock after purchasing an additional 65 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Costco Wholesale were worth $1,646,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bulwark Capital Corp acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth about $25,000. Anderson Financial Strategies LLC increased its position in Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after acquiring an additional 36 shares in the last quarter. eCIO Inc. acquired a new stake in Costco Wholesale in the 1st quarter valued at about $48,000. Aspect Partners LLC increased its position in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after acquiring an additional 11 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in Costco Wholesale in the 1st quarter valued at about $61,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale 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 transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. The trade was 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 90 days. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley lowered their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Truist Financial lowered their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research report on Friday, September 26th. Telsey Advisory Group restated an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Wednesday, September 24th. Sanford C. Bernstein raised their price objective on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,130.00 price objective on shares of Costco Wholesale in a research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,067.19.

Costco Wholesale Stock Down 0.5%

Shares of NASDAQ:COST opened at $910.94 on Tuesday. Costco Wholesale Corporation has a one year low of $867.34 and a one year high of $1,078.23. The company has a 50 day moving average of $953.08 and a 200-day moving average of $972.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The stock has a market cap of $403.98 billion, a price-to-earnings ratio of 50.02, a P/E/G ratio of 5.55 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. During the same quarter in the previous year, the company earned $5.15 EPS. Costco Wholesale’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

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.