Brown Miller Wealth Management LLC Purchases 248 Shares of Costco Wholesale Corporation $COST

Brown Miller Wealth Management LLC grew its position in Costco Wholesale Corporation (NASDAQ:COST) by 24.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,246 shares of the retailer’s stock after buying an additional 248 shares during the period. Brown Miller Wealth Management LLC’s holdings in Costco Wholesale were worth $1,233,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in COST. Vanguard Group Inc. boosted its holdings in shares of Costco Wholesale by 1.0% in the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock valued at $40,332,515,000 after buying an additional 443,101 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Costco Wholesale by 0.4% during the first quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer’s stock worth $4,097,127,000 after acquiring an additional 18,045 shares during the period. Invesco Ltd. lifted its position in Costco Wholesale by 5.2% in the 1st quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer’s stock valued at $3,695,796,000 after acquiring an additional 191,985 shares in the last quarter. Nuveen LLC acquired a new position in Costco Wholesale in the 1st quarter worth $3,461,159,000. Finally, Jennison Associates LLC increased its holdings in Costco Wholesale by 3.9% during the 1st quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer’s stock worth $3,175,579,000 after purchasing an additional 125,441 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Down 0.2%

COST stock opened at $915.38 on Monday. The stock has a market capitalization of $405.95 billion, a P/E ratio of 50.27, a price-to-earnings-growth ratio of 5.55 and a beta of 0.98. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $953.54 and a 200-day moving average price of $972.15. Costco Wholesale Corporation has a 12 month low of $867.34 and a 12 month high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) 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 business had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. During the same period in the prior year, the company earned $5.15 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company 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. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s payout ratio is currently 28.56%.

Insiders Place Their Bets

In other news, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,981 shares of company stock valued at $7,588,685 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on COST shares. Daiwa Capital Markets cut their price target on Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. DA Davidson restated a “neutral” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research note on Friday, September 26th. The Goldman Sachs Group upped their price target on Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Truist Financial lowered their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a report on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,067.19.

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.