Westside Investment Management Inc. Has $1.21 Million Stock Position in Costco Wholesale Corporation $COST

Westside Investment Management Inc. grew its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,222 shares of the retailer’s stock after purchasing an additional 78 shares during the quarter. Westside Investment Management Inc.’s holdings in Costco Wholesale were worth $1,208,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bulwark Capital Corp acquired a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $25,000. Anderson Financial Strategies LLC increased its position in shares of Costco Wholesale by 900.0% during 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 last quarter. Financial Connections Group Inc. increased its position in shares of Costco Wholesale by 975.0% during the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after purchasing an additional 39 shares during the last quarter. Frazier Financial Advisors LLC increased its position in shares of Costco Wholesale by 72.0% during the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock worth $43,000 after purchasing an additional 18 shares during the last quarter. Finally, eCIO Inc. acquired a new position in shares of Costco Wholesale during the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the topic of several recent analyst reports. Citigroup lowered their price target 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. Morgan Stanley reduced their target price on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. BTIG Research began coverage on Costco Wholesale in a research note on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Finally, Truist Financial reduced their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research note on Friday, September 26th. Nineteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $1,068.15.

Costco Wholesale Stock Performance

COST opened at $911.45 on Monday. The business has a fifty day simple moving average of $939.53 and a 200 day simple moving average of $970.42. The company has a market capitalization of $403.94 billion, a PE ratio of 50.05, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55.

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

Costco Wholesale Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, October 31st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale’s payout ratio is 28.56%.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tiffany Marie Barbre sold 1,239 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $934.62, for a total value of $1,157,994.18. Following the sale, the insider owned 5,155 shares of the company’s stock, valued at approximately $4,817,966.10. The trade was a 19.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 7,920 shares of company stock valued at $7,373,175. Company insiders own 0.18% of the company’s stock.

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.