Canvas Wealth Advisors LLC Raises Position in Costco Wholesale Corporation $COST

Canvas Wealth Advisors LLC lifted its position in Costco Wholesale Corporation (NASDAQ:COST) by 6.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,609 shares of the retailer’s stock after acquiring an additional 93 shares during the period. Canvas Wealth Advisors LLC’s holdings in Costco Wholesale were worth $1,503,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fishman Jay A Ltd. MI lifted its position in Costco Wholesale by 3.5% during the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock valued at $16,718,000 after acquiring an additional 575 shares during the period. Independent Solutions Wealth Management LLC increased its stake in shares of Costco Wholesale by 0.3% during the second quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock valued at $20,430,000 after purchasing an additional 53 shares in the last quarter. Personal CFO Solutions LLC increased its stake in shares of Costco Wholesale by 12.4% during the first quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock valued at $1,436,000 after purchasing an additional 167 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in shares of Costco Wholesale during the first quarter valued at approximately $3,095,000. Finally, Rossmore Private Capital boosted its position in shares of Costco Wholesale by 0.9% in the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock worth $6,325,000 after purchasing an additional 62 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares of the company’s stock, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Russell D. Miller sold 3,381 shares of the firm’s 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 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 disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on COST shares. Wolfe Research assumed coverage on Costco Wholesale in a research note on Thursday, September 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. reduced their price target on 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note 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. Finally, Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the stock a “neutral” rating in a report 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. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $1,068.15.

Costco Wholesale Trading Up 1.2%

Costco Wholesale stock opened at $936.33 on Monday. Costco Wholesale Corporation has a one year low of $867.34 and a one year high of $1,078.23. The business’s fifty day moving average is $949.51 and its 200 day moving average is $971.56. The stock has a market capitalization of $414.96 billion, a PE ratio of 51.42, a price-to-earnings-growth ratio of 5.68 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 posted its 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 for the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.15 EPS. On average, sell-side analysts predict 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 issued 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 dividend payout ratio (DPR) is currently 28.56%.

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.