Canopy Partners LLC Has $2.37 Million Stake in Costco Wholesale Corporation $COST

Canopy Partners LLC lifted its position in Costco Wholesale Corporation (NASDAQ:COST) by 9.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,396 shares of the retailer’s stock after purchasing an additional 197 shares during the quarter. Costco Wholesale accounts for 0.9% of Canopy Partners LLC’s portfolio, making the stock its 26th largest position. Canopy Partners LLC’s holdings in Costco Wholesale were worth $2,372,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COST. Bulwark Capital Corp bought a new stake in Costco Wholesale in the second quarter valued at $25,000. Anderson Financial Strategies LLC lifted its holdings in Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after purchasing an additional 36 shares during the last quarter. eCIO Inc. bought a new stake in Costco Wholesale during the first quarter worth about $48,000. Aspect Partners LLC increased its holdings 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 buying an additional 11 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new position in shares of Costco Wholesale in the first quarter valued at approximately $61,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction dated 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 approximately $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock worth $7,588,685 over the last 90 days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $914.80 on Wednesday. The business’s 50-day simple moving average is $952.69 and its 200 day simple moving average is $971.76. The stock has a market cap of $405.70 billion, a price-to-earnings ratio of 50.24, a P/E/G ratio of 5.52 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.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.06. The business had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business earned $5.15 earnings per share. As a group, research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.56%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Argus increased their price target on Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Oppenheimer restated an “outperform” rating and set a $1,130.00 target price on shares of Costco Wholesale in a report on Friday, September 26th. Roth Capital set a $907.00 target price on Costco Wholesale and gave the stock a “neutral” rating in a report on Friday, September 26th. Citigroup decreased their price objective on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Finally, Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price 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.