Three Cord True Wealth Management LLC Buys New Stake in Costco Wholesale Corporation $COST

Three Cord True Wealth Management LLC purchased a new stake in Costco Wholesale Corporation (NASDAQ:COST) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 222 shares of the retailer’s stock, valued at approximately $220,000. Costco Wholesale makes up about 0.4% of Three Cord True Wealth Management LLC’s investment portfolio, making the stock its 15th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bulwark Capital Corp acquired a new stake in Costco Wholesale during the 2nd quarter valued at $25,000. Anderson Financial Strategies LLC boosted its position in Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after buying an additional 36 shares during the last quarter. eCIO Inc. acquired a new stake in shares of Costco Wholesale during the first quarter valued at about $48,000. Aspect Partners LLC increased its position in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after acquiring an additional 11 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Costco Wholesale in the first quarter worth about $61,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $915.38 on Monday. The stock has a market cap of $405.95 billion, a PE ratio of 50.27, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. Costco Wholesale Corporation has a 12 month low of $867.34 and a 12 month high of $1,078.23. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $953.54 and a 200-day simple moving average of $972.15.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. During the same period in the previous year, the company posted $5.15 EPS. Costco Wholesale’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s payout ratio is currently 28.56%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,981 shares of company stock worth $7,588,685 over the last three months. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on COST shares. Roth Capital set a $907.00 price objective on Costco Wholesale and gave the company a “neutral” rating in a research note on Friday, September 26th. Evercore ISI decreased their price target on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a research report on Friday, September 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Costco Wholesale in a research note on Saturday, September 27th. Telsey Advisory Group reiterated an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research note on Wednesday, September 24th. Finally, Morgan Stanley decreased their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a report on Friday, September 26th. Nineteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,067.19.

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.