New Wave Wealth Advisors LLC Acquires Shares of 885 Costco Wholesale Co. (NASDAQ:COST)

New Wave Wealth Advisors LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 885 shares of the retailer’s stock, valued at approximately $752,000.

Other institutional investors have also modified their holdings of the company. Wulff Hansen & CO. lifted its holdings in Costco Wholesale by 99,208.6% during the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock worth $1,253,508,000 after buying an additional 1,473,248 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Costco Wholesale during the 1st quarter worth about $510,353,000. Assenagon Asset Management S.A. lifted its stake in Costco Wholesale by 287.3% during the second quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after purchasing an additional 620,341 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Costco Wholesale by 51,747.5% during the second quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after purchasing an additional 618,383 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Costco Wholesale by 3,647.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock valued at $374,688,000 after purchasing an additional 552,492 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 0.1 %

Shares of Costco Wholesale stock opened at $886.52 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The firm has a market cap of $393.03 billion, a price-to-earnings ratio of 54.93, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83. The company’s 50-day simple moving average is $871.45 and its 200-day simple moving average is $818.37.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same period in the prior year, the business posted $4.86 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that Costco Wholesale Co. will post 16.02 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s payout ratio is currently 28.75%.

Insider Transactions at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares in the company, valued at $20,015,745. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on 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 transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock valued at $4,252,856 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on COST. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a research report on Thursday, August 8th. DA Davidson boosted their price target on shares of Costco Wholesale from $780.00 to $880.00 and gave the company a “neutral” rating in a research report on Friday. Loop Capital raised their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a report on Friday. Tigress Financial lifted their target price on Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, Melius Research assumed coverage on Costco Wholesale in a research report on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $883.04.

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.