Lakeshore Capital Group Inc. Sells 56 Shares of Costco Wholesale Corporation $COST

Lakeshore Capital Group Inc. lessened its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,037 shares of the retailer’s stock after selling 56 shares during the quarter. Costco Wholesale comprises about 2.7% of Lakeshore Capital Group Inc.’s investment portfolio, making the stock its 7th largest position. Lakeshore Capital Group Inc.’s holdings in Costco Wholesale were worth $3,006,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Corps Capital Advisors LLC lifted its stake 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 acquiring an additional 10 shares during the period. Covestor Ltd lifted its stake 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 acquiring an additional 10 shares during the period. Farrell Financial LLC lifted its stake 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 acquiring an additional 11 shares during the period. Western Pacific Wealth Management LP lifted its stake in shares of 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 acquiring an additional 11 shares during the period. Finally, MOKAN Wealth Management Inc. lifted its stake in shares of 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 acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Up 0.4%

Shares of Costco Wholesale stock opened at $914.80 on Wednesday. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23. The business has a 50-day moving average of $952.69 and a two-hundred day moving average of $971.76. The company has a market capitalization of $405.70 billion, a P/E ratio of 50.24, a price-to-earnings-growth ratio of 5.52 and a beta of 0.98. 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 announced its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping 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 company had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the prior year, the company earned $5.15 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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

Analyst Upgrades and Downgrades

COST has been the topic of several research reports. Morgan Stanley cut 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 note on Friday, September 26th. Truist Financial cut their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Wolfe Research started coverage on Costco Wholesale in a research note on Thursday, September 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein increased their target price on 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, DA Davidson reissued a “neutral” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research note on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $1,067.19.

Insiders Place Their Bets

In related news, EVP Yoram Rubanenko sold 4,000 shares of the 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 completion of the transaction, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,981 shares of company stock worth $7,588,685 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

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.