Global Wealth Management Investment Advisory Inc. Boosts Stake in Costco Wholesale Corporation $COST

Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 3.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,606 shares of the retailer’s stock after acquiring an additional 136 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Costco Wholesale were worth $3,570,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of COST. Bulwark Capital Corp acquired a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $25,000. Anderson Financial Strategies LLC increased its holdings in Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after acquiring an additional 36 shares in the last quarter. Financial Connections Group Inc. raised its position in Costco Wholesale by 975.0% during 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 period. Frazier Financial Advisors LLC lifted its holdings in Costco Wholesale by 72.0% during the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock valued at $43,000 after purchasing an additional 18 shares in the last quarter. Finally, eCIO Inc. acquired a new stake in shares of Costco Wholesale in the first quarter valued at about $48,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Costco Wholesale in a research report on Thursday, September 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. reduced their target price on Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating for the company in a report on Thursday. Mizuho decreased their target price on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Citigroup lowered their price target on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Finally, 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. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,063.88.

Insider Activity

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the transaction, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,920 shares of company stock worth $7,373,175 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Performance

NASDAQ COST opened at $922.74 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The stock’s fifty day moving average is $938.12 and its two-hundred day moving average is $968.70. The firm has a market capitalization of $408.94 billion, a P/E ratio of 50.67, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a fifty-two week low of $871.71 and a fifty-two week high of $1,078.23.

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

Costco Wholesale Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, October 31st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is 28.56%.

Costco Wholesale 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.