OMNI 360 Wealth Inc. Purchases New Shares in Costco Wholesale Co. (NASDAQ:COST)

OMNI 360 Wealth Inc. purchased a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 238 shares of the retailer’s stock, valued at approximately $202,000.

A number of other large investors also recently made changes to their positions in COST. Frank Rimerman Advisors LLC bought a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $26,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC bought a new stake in shares of Costco Wholesale during the 1st quarter worth $32,000. Vima LLC purchased a new position in Costco Wholesale in the fourth quarter worth $34,000. Finally, DSM Capital Partners LLC bought a new stake in Costco Wholesale during the fourth quarter worth about $36,000. 68.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

COST has been the subject of a number of recent research reports. Barclays upped their target price on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Oppenheimer reduced their price target on Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Sunday, June 2nd. Tigress Financial upped their price target on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, BMO Capital Markets increased their price objective on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $824.50.

Insiders Place Their Bets

In related news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders sold a total of 4,970 shares of company stock worth $4,249,526 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Performance

NASDAQ:COST traded up $1.21 during trading hours on Monday, reaching $871.80. The company had a trading volume of 420,302 shares, compared to its average volume of 1,977,664. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a 52 week low of $530.56 and a 52 week high of $896.67. The firm has a market cap of $386.50 billion, a price-to-earnings ratio of 53.92, a PEG ratio of 5.79 and a beta of 0.78. The firm’s 50 day moving average price is $848.44 and its 200-day moving average price is $783.16.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. The business had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.43 earnings per share. On average, analysts forecast that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

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.