Garner Asset Management Corp Has $3.71 Million Stake in Costco Wholesale Corporation $COST

Garner Asset Management Corp decreased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 7.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,750 shares of the retailer’s stock after selling 299 shares during the quarter. Costco Wholesale accounts for about 1.7% of Garner Asset Management Corp’s investment portfolio, making the stock its 12th biggest position. Garner Asset Management Corp’s holdings in Costco Wholesale were worth $3,712,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Peterson Wealth Services boosted its holdings in Costco Wholesale by 0.5% during the second quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock valued at $13,479,000 after purchasing an additional 72 shares in the last quarter. Fishman Jay A Ltd. MI raised its holdings in shares of Costco Wholesale by 3.5% in the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock worth $16,718,000 after buying an additional 575 shares in the last quarter. Wealthspire Advisors LLC lifted its position in shares of Costco Wholesale by 2.0% during the 2nd quarter. Wealthspire Advisors LLC now owns 15,799 shares of the retailer’s stock worth $15,640,000 after buying an additional 312 shares during the period. Vanguard Group Inc. lifted its position in shares of Costco Wholesale by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 43,356,271 shares of the retailer’s stock worth $42,920,107,000 after buying an additional 711,560 shares during the period. Finally, Independent Solutions Wealth Management LLC boosted its stake in Costco Wholesale by 0.3% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock valued at $20,430,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. DA Davidson reiterated a “neutral” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a research note on Friday, September 26th. Truist Financial decreased their price objective on shares of 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. Hovde Group began coverage on shares of Costco Wholesale in a research note on Tuesday, November 18th. They issued a “market perform” rating and a $16.00 target price for the company. Wolfe Research began coverage on Costco Wholesale in a report on Thursday, September 18th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley decreased 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. Eighteen investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,025.07.

Costco Wholesale Trading Up 1.6%

Shares of NASDAQ COST opened at $908.26 on Thursday. Costco Wholesale Corporation has a 1-year low of $871.71 and a 1-year high of $1,078.23. The company has a 50-day moving average of $924.22 and a two-hundred day moving average of $960.46. The company has a market cap of $402.52 billion, a PE ratio of 49.88, a P/E/G ratio of 5.54 and a beta of 0.98. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20.

Costco Wholesale (NASDAQ:COST) last issued its quarterly 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 net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion during the quarter, compared to analyst estimates of $86.01 billion. During the same quarter last year, the business posted $5.15 earnings per share. Costco Wholesale’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is 28.56%.

Insider Transactions at Costco Wholesale

In related news, insider Tiffany Marie Barbre sold 1,239 shares of Costco Wholesale stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the sale, the insider directly owned 5,155 shares in the company, valued at $4,817,966.10. This trade represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William Richard Wilcox sold 2,400 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $930.13, for a total value of $2,232,312.00. Following the sale, the executive vice president directly owned 2,000 shares of the company’s stock, valued at $1,860,260. This represents a 54.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,720 shares of company stock worth $9,010,257. 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.