SRS Capital Advisors Inc. Buys 977 Shares of Costco Wholesale Co. (NASDAQ:COST)

SRS Capital Advisors Inc. raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 370.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,241 shares of the retailer’s stock after purchasing an additional 977 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Costco Wholesale were worth $1,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Oak Asset Management LLC boosted its holdings in Costco Wholesale by 0.3% during the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares in the last quarter. Peddock Capital Advisors LLC lifted its position in shares of Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock worth $1,518,000 after buying an additional 12 shares during the period. Bedel Financial Consulting Inc. boosted its stake in Costco Wholesale by 1.3% in the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock valued at $729,000 after buying an additional 13 shares in the last quarter. Boltwood Capital Management grew its position in Costco Wholesale by 1.7% in the second quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock valued at $671,000 after acquiring an additional 13 shares during the period. Finally, LifePro Asset Management raised its stake in Costco Wholesale by 3.8% during the second quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock worth $304,000 after acquiring an additional 13 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the transaction, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at $20,015,745. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $1,266,300.00. Following the completion of the sale, 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. Over the last quarter, insiders have sold 4,974 shares of company stock worth $4,252,856. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on COST. TD Cowen boosted their target price on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Citigroup upped their price objective on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research note on Friday, May 31st. Argus lifted their target price on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Truist Financial increased their price target on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Stifel Nicolaus raised their price target on Costco Wholesale from $910.00 to $915.00 and gave the company a “buy” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $828.73.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $876.68 on Friday. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $918.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a market capitalization of $388.66 billion, a price-to-earnings ratio of 54.32, a PEG ratio of 5.98 and a beta of 0.80. The firm has a fifty day moving average of $857.45 and a two-hundred day moving average of $800.19.

Costco Wholesale Announces Dividend

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

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.