Jacobsen Capital Management Increases Stock Position in Costco Wholesale Corporation $COST

Jacobsen Capital Management lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 7.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 783 shares of the retailer’s stock after buying an additional 55 shares during the period. Jacobsen Capital Management’s holdings in Costco Wholesale were worth $775,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Chokshi & Queen Wealth Advisors Inc boosted its stake in shares of Costco Wholesale by 5.1% in the second quarter. Chokshi & Queen Wealth Advisors Inc now owns 11,702 shares of the retailer’s stock valued at $11,584,000 after buying an additional 563 shares in the last quarter. Gables Capital Management Inc. lifted its holdings in Costco Wholesale by 7.4% in the second quarter. Gables Capital Management Inc. now owns 289 shares of the retailer’s stock valued at $286,000 after acquiring an additional 20 shares during the period. St. Johns Investment Management Company LLC boosted its position in shares of Costco Wholesale by 1.1% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,833 shares of the retailer’s stock worth $1,815,000 after purchasing an additional 20 shares in the last quarter. Pacific Sun Financial Corp grew its stake in shares of Costco Wholesale by 2.3% during the 2nd quarter. Pacific Sun Financial Corp now owns 587 shares of the retailer’s stock worth $581,000 after purchasing an additional 13 shares during the period. Finally, TLW Wealth Management LLC increased its holdings in shares of Costco Wholesale by 0.3% in the 2nd quarter. TLW Wealth Management LLC now owns 13,638 shares of the retailer’s stock valued at $13,501,000 after purchasing an additional 37 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COST. Wolfe Research began coverage on shares of Costco Wholesale in a research report on Thursday, September 18th. They set a “peer perform” rating on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, September 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,130.00 price objective on shares of Costco Wholesale in a research note on Friday, September 26th. Sanford C. Bernstein lifted their price objective on Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, Roth Capital set a $907.00 target price on Costco Wholesale and gave the company a “neutral” rating in a report on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,068.15.

Costco Wholesale Price Performance

COST stock opened at $937.50 on Wednesday. The stock’s 50 day moving average price is $947.38 and its 200 day moving average price is $971.46. The firm has a market cap of $415.48 billion, a P/E ratio of 51.48, a PEG ratio of 5.68 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23.

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

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 yield of 0.6%. Costco Wholesale’s payout ratio is presently 28.56%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the company’s 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 transaction, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president directly owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

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.