Strait & Sound Wealth Management LLC Increases Position in Costco Wholesale Corporation $COST

Strait & Sound Wealth Management LLC raised its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.3% in the second quarter, HoldingsChannel.com reports. The firm owned 5,936 shares of the retailer’s stock after buying an additional 136 shares during the period. Costco Wholesale comprises about 2.5% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 8th biggest holding. Strait & Sound Wealth Management LLC’s holdings in Costco Wholesale were worth $5,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bulwark Capital Corp bought a new stake in Costco Wholesale in the second quarter worth about $25,000. Anderson Financial Strategies LLC boosted its holdings in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after buying an additional 36 shares in the last quarter. Financial Connections Group Inc. grew its position in Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after buying an additional 39 shares during the last quarter. Frazier Financial Advisors LLC lifted its position in shares of Costco Wholesale by 72.0% during the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock valued at $43,000 after acquiring an additional 18 shares during the last quarter. Finally, eCIO Inc. acquired a new stake in shares of Costco Wholesale during the first quarter worth $48,000. Institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Erste Group Bank lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. BTIG Research initiated coverage on Costco Wholesale in a research note on Tuesday, October 14th. They issued a “buy” rating and a $1,115.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. DA Davidson reissued a “neutral” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research report on Friday, September 26th. Finally, Oppenheimer reiterated an “outperform” rating and set a $1,130.00 price target on shares of Costco Wholesale in a 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,068.15.

Costco Wholesale Stock Down 1.1%

NASDAQ COST opened at $932.14 on Friday. Costco Wholesale Corporation has a twelve month low of $867.34 and a twelve month high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The stock has a market cap of $413.11 billion, a PE ratio of 51.19, a PEG ratio of 5.66 and a beta of 0.98. The firm has a 50-day simple moving average of $945.23 and a 200 day simple moving average of $972.11.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.06. The company had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.Costco Wholesale’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $5.15 EPS. On average, research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be 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 is Friday, October 31st. Costco Wholesale’s dividend payout ratio is currently 28.56%.

Insider Activity

In other Costco Wholesale news, EVP Claudine Adamo sold 2,700 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the transaction, the executive vice president owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. The trade was a 28.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 7,920 shares of company stock worth $7,373,175 in the last quarter. 0.18% of the stock is owned by company insiders.

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.