Costco Wholesale Corporation $COST Holdings Lifted by Sutton Place Investors LLC

Sutton Place Investors LLC increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 9.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 376 shares of the retailer’s stock after buying an additional 32 shares during the quarter. Sutton Place Investors LLC’s holdings in Costco Wholesale were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Corps Capital Advisors LLC grew its holdings in shares of Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after buying an additional 10 shares in the last quarter. Covestor Ltd grew its holdings in shares of Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after buying an additional 10 shares in the last quarter. Farrell Financial LLC grew its holdings in shares of Costco Wholesale by 2.2% during the first quarter. Farrell Financial LLC now owns 522 shares of the retailer’s stock valued at $493,000 after buying an additional 11 shares in the last quarter. Western Pacific Wealth Management LP boosted its position in Costco Wholesale by 0.5% during the first quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer’s stock valued at $1,925,000 after purchasing an additional 11 shares during the last quarter. Finally, MOKAN Wealth Management Inc. boosted its position in Costco Wholesale by 0.4% during the first quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock valued at $2,499,000 after purchasing an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Russell D. Miller sold 3,381 shares of the business’s 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 transaction, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,981 shares of company stock worth $7,588,685 over the last three months. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on COST. Weiss Ratings reissued a “buy (b-)” rating on shares of Costco Wholesale in a research report on Saturday, September 27th. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Wednesday, September 24th. Oppenheimer reissued an “outperform” rating and set a $1,130.00 price objective on shares of Costco Wholesale in a research report on Friday, September 26th. Daiwa Capital Markets reduced their price objective on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a research report on Tuesday, September 30th. Finally, Truist Financial reduced their price objective on 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. Nineteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $1,067.19.

Costco Wholesale Trading Down 0.2%

Shares of COST opened at $915.38 on Friday. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $405.95 billion, a price-to-earnings ratio of 50.27, a P/E/G ratio of 5.55 and a beta of 0.98. The stock’s 50-day moving average price is $953.54 and its 200 day moving average price is $971.61.

Costco Wholesale (NASDAQ:COST) last issued 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. 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 analyst estimates of $86.01 billion. During the same period in the previous year, the company posted $5.15 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared 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. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s payout ratio is currently 28.56%.

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.