Ruedi Wealth Management Inc. Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)

Ruedi Wealth Management Inc. increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 73.5% in the second quarter, HoldingsChannel.com reports. The firm owned 59 shares of the retailer’s stock after buying an additional 25 shares during the period. Ruedi Wealth Management Inc.’s holdings in Costco Wholesale were worth $50,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in COST. Oak Asset Management LLC boosted its holdings in shares of Costco Wholesale by 0.3% in the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after buying an additional 12 shares during the period. Bedel Financial Consulting Inc. grew its stake in shares of Costco Wholesale by 1.3% in the first quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after acquiring an additional 13 shares during the last quarter. Boltwood Capital Management grew its stake in shares of Costco Wholesale by 1.7% in the second quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock worth $671,000 after acquiring an additional 13 shares during the last quarter. LifePro Asset Management grew its stake in shares of Costco Wholesale by 3.8% in the second quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock worth $304,000 after acquiring an additional 13 shares during the last quarter. Finally, Southland Equity Partners LLC boosted its stake in Costco Wholesale by 2.3% during the second quarter. Southland Equity Partners LLC now owns 574 shares of the retailer’s stock worth $488,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wells Fargo & Company lifted their price target on Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Truist Financial boosted their price objective on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Barclays boosted their price objective on Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. TD Cowen upped their price target on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $676.00 price target (up previously from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $824.50.

Costco Wholesale Stock Performance

NASDAQ:COST traded down $3.61 during trading on Friday, reaching $873.74. The company’s stock had a trading volume of 747,991 shares, compared to its average volume of 1,982,658. The firm has a market cap of $387.36 billion, a price-to-earnings ratio of 53.94, a price-to-earnings-growth ratio of 5.73 and a beta of 0.78. 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 firm has a 50 day moving average of $847.94 and a 200-day moving average of $780.75. Costco Wholesale Co. has a 12 month low of $530.56 and a 12 month high of $896.67.

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

Costco Wholesale Dividend Announcement

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

Insider Activity

In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Susan L. Decker sold 620 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the 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 in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold 4,970 shares of company stock valued at $4,249,526 in the last 90 days. Insiders own 0.18% of the company’s stock.

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.