Morey & Quinn Wealth Partners LLC Has $835,000 Stock Holdings in Costco Wholesale Corporation $COST

Morey & Quinn Wealth Partners LLC increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 843 shares of the retailer’s stock after buying an additional 15 shares during the period. Morey & Quinn Wealth Partners LLC’s holdings in Costco Wholesale were worth $835,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bulwark Capital Corp acquired a new position in shares of Costco Wholesale in the 2nd quarter worth approximately $25,000. Anderson Financial Strategies LLC lifted its position in shares of Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after purchasing an additional 36 shares during the period. eCIO Inc. acquired a new position in shares of Costco Wholesale in the 1st quarter worth approximately $48,000. Aspect Partners LLC lifted its position in shares of Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares during the period. Finally, Ransom Advisory Ltd acquired a new position in shares of Costco Wholesale in the 1st quarter worth approximately $61,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COST. Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Telsey Advisory Group restated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 24th. Morgan Stanley dropped their price target on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Sanford C. Bernstein lifted 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 note on Friday, September 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,067.19.

Costco Wholesale Price Performance

COST opened at $914.80 on Thursday. 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 company has a market capitalization of $405.69 billion, a price-to-earnings ratio of 50.24, a P/E/G ratio of 5.55 and a beta of 0.98. The firm’s fifty day moving average price is $952.43 and its two-hundred day moving average price is $971.37. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23.

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

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s payout ratio is 28.56%.

Insider Buying and Selling

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the business’s 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 sale, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,981 shares of company stock valued at $7,588,685. 0.18% of the stock is owned by company insiders.

Costco Wholesale Company 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.