McGuire Investment Group LLC Has $19.74 Million Position in Costco Wholesale Corporation $COST

McGuire Investment Group LLC raised its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,936 shares of the retailer’s stock after buying an additional 295 shares during the period. Costco Wholesale accounts for about 2.5% of McGuire Investment Group LLC’s portfolio, making the stock its 14th largest holding. McGuire Investment Group LLC’s holdings in Costco Wholesale were worth $19,736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Costco Wholesale by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock worth $40,332,515,000 after purchasing an additional 443,101 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Costco Wholesale by 0.4% during the 1st quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer’s stock worth $4,097,127,000 after purchasing an additional 18,045 shares during the last quarter. Invesco Ltd. increased its stake in shares of Costco Wholesale by 5.2% during the 1st quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer’s stock worth $3,695,796,000 after purchasing an additional 191,985 shares during the last quarter. Nuveen LLC acquired a new position in shares of Costco Wholesale during the 1st quarter worth about $3,461,159,000. Finally, Jennison Associates LLC increased its stake in shares of Costco Wholesale by 3.9% during the 1st quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer’s stock worth $3,175,579,000 after purchasing an additional 125,441 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,981 shares of company stock valued at $7,588,685 in the last quarter. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ COST opened at $917.34 on Thursday. 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 company has a market capitalization of $406.82 billion, a P/E ratio of 50.38, a P/E/G ratio of 5.65 and a beta of 0.98. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The firm has a 50-day moving average price of $954.29 and a two-hundred day moving average price of $971.03.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $5.15 EPS. Analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on COST shares. Morgan Stanley lowered their price objective on shares of 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. Oppenheimer restated an “outperform” rating and set a $1,130.00 price objective on shares of Costco Wholesale in a research note on Friday, September 26th. Evercore ISI lowered their price objective on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Truist Financial decreased their price target 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. Finally, The Goldman Sachs Group upped their price target on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Eighteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,067.19.

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.