WealthPlan Investment Management LLC Has $19.55 Million Stake in Costco Wholesale Corporation $COST

WealthPlan Investment Management LLC boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 17.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,746 shares of the retailer’s stock after buying an additional 2,900 shares during the quarter. Costco Wholesale comprises 1.4% of WealthPlan Investment Management LLC’s portfolio, making the stock its 14th biggest holding. WealthPlan Investment Management LLC’s holdings in Costco Wholesale were worth $19,548,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bulwark Capital Corp acquired a new position in Costco Wholesale during the second quarter worth $25,000. Anderson Financial Strategies LLC increased its position in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after buying an additional 36 shares during the last quarter. Financial Connections Group Inc. increased its position in Costco Wholesale by 975.0% during the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after buying an additional 39 shares during the last quarter. Frazier Financial Advisors LLC increased its position in Costco Wholesale by 72.0% during the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock worth $43,000 after buying an additional 18 shares during the last quarter. Finally, eCIO Inc. acquired a new position in Costco Wholesale during the first quarter worth $48,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Up 0.9%

NASDAQ COST opened at $954.99 on Thursday. 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 firm has a 50-day simple moving average of $951.44 and a 200 day simple moving average of $971.75. Costco Wholesale Corporation has a twelve month low of $867.34 and a twelve month high of $1,078.23. The stock has a market cap of $423.23 billion, a PE ratio of 52.44, a PEG ratio of 5.74 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating 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 business had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. During the same quarter last year, the company earned $5.15 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. On average, research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.56%.

Insider Activity

In related news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on COST. Jefferies Financial Group reissued a “buy” rating on shares of Costco Wholesale in a research report on Thursday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a report on Friday, September 26th. Daiwa Capital Markets decreased their price target on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Sanford C. Bernstein upped their price target on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an “outperform” rating in a report on Friday, September 26th. Finally, Citigroup decreased their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Twenty research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,068.04.

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.