New York Life Investment Management LLC Purchases 972 Shares of Costco Wholesale Corporation $COST

New York Life Investment Management LLC grew its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.6% during the second quarter, HoldingsChannel reports. The firm owned 60,342 shares of the retailer’s stock after buying an additional 972 shares during the quarter. New York Life Investment Management LLC’s holdings in Costco Wholesale were worth $59,735,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bulwark Capital Corp acquired a new stake in shares of Costco Wholesale in the second quarter worth $25,000. Anderson Financial Strategies LLC grew its stake in shares of Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after acquiring an additional 36 shares during the last quarter. Financial Connections Group Inc. grew its stake in shares of Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after acquiring an additional 39 shares during the last quarter. Frazier Financial Advisors LLC grew its stake in shares of Costco Wholesale by 72.0% in the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock worth $43,000 after acquiring an additional 18 shares during the last quarter. Finally, eCIO Inc. acquired a new stake in shares of Costco Wholesale in the first quarter worth $48,000. Institutional investors own 68.48% of the company’s stock.

Insider Activity

In other 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 in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tiffany Marie Barbre sold 1,239 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the completion of the sale, the insider owned 5,155 shares in the company, valued at $4,817,966.10. This represents a 19.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,920 shares of company stock worth $7,373,175 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Down 0.2%

COST opened at $929.85 on Tuesday. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The firm’s fifty day moving average price is $944.24 and its two-hundred day moving average price is $971.91. The company has a market capitalization of $412.09 billion, a P/E ratio of 51.06, a P/E/G ratio of 5.66 and a beta of 0.98.

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

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, October 31st. Costco Wholesale’s payout ratio is currently 28.56%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on COST shares. Morgan Stanley lowered their price objective on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Oppenheimer restated an “outperform” rating and issued a $1,130.00 price objective on shares of Costco Wholesale in a research note on Friday, September 26th. Evercore ISI lowered their price objective on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. Finally, Mizuho lowered their price objective on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $1,068.15.

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.