Ballast Advisors LLC Acquires 50 Shares of Costco Wholesale Corporation $COST

Ballast Advisors LLC raised its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,347 shares of the retailer’s stock after buying an additional 50 shares during the period. Costco Wholesale comprises approximately 0.7% of Ballast Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Ballast Advisors LLC’s holdings in Costco Wholesale were worth $2,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of COST. Corps Capital Advisors LLC grew its position in shares of Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after purchasing an additional 10 shares during the last quarter. Covestor Ltd grew its position in shares of Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after purchasing an additional 10 shares during the last quarter. Aspect Partners LLC grew its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after purchasing an additional 11 shares during the last quarter. Viewpoint Capital Management LLC grew its position in shares of Costco Wholesale by 0.4% in the first quarter. Viewpoint Capital Management LLC now owns 2,689 shares of the retailer’s stock valued at $2,543,000 after purchasing an additional 11 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. grew its position in shares of Costco Wholesale by 0.4% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,071 shares of the retailer’s stock valued at $2,905,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on COST. Citigroup decreased their target price on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. Evercore ISI reduced their price target on Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Morgan Stanley reduced their price target on 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. Roth Capital set a $907.00 price target on Costco Wholesale and gave the stock a “neutral” rating in a research report on Friday, September 26th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 24th. Nineteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,068.15.

Costco Wholesale Trading Down 1.1%

Shares of COST stock opened at $932.14 on Friday. The stock’s fifty day moving average price is $945.23 and its two-hundred day moving average price is $972.11. The company has a market cap of $413.11 billion, a PE ratio of 51.19, a P/E/G ratio of 5.66 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. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $86.01 billion. During the same quarter last year, the business posted $5.15 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid 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 is Friday, October 31st. Costco Wholesale’s dividend payout ratio is presently 28.56%.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the transaction, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. This represents a 25.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 2,700 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the transaction, the executive vice president directly owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. This represents a 28.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,920 shares of company stock valued at $7,373,175 over the last quarter. 0.18% of the stock is currently owned by insiders.

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.