LVM Capital Management Ltd. MI Acquires 60 Shares of Costco Wholesale Corporation $COST

by · The Markets Daily

LVM Capital Management Ltd. MI lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 10.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 650 shares of the retailer’s stock after acquiring an additional 60 shares during the period. LVM Capital Management Ltd. MI’s holdings in Costco Wholesale were worth $643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Costco Wholesale by 1.0% during the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock worth $40,332,515,000 after acquiring an additional 443,101 shares in the last quarter. GAMMA Investing LLC grew its position in Costco Wholesale by 106,402.1% in the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer’s stock worth $7,717,744,000 after purchasing an additional 8,152,528 shares in the last quarter. Alliancebernstein L.P. grew its position in Costco Wholesale by 0.4% in the 1st quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer’s stock worth $4,097,127,000 after purchasing an additional 18,045 shares in the last quarter. Invesco Ltd. grew 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 worth $3,695,796,000 after purchasing an additional 191,985 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Costco Wholesale in the 1st quarter worth about $3,461,159,000. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COST has been the subject of a number of recent analyst reports. Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Truist Financial upped their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Morgan Stanley upped their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. Finally, Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research report on Thursday, May 29th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,056.67.

Get Our Latest Research Report on Costco Wholesale

Costco Wholesale Stock Up 0.4%

COST opened at $967.90 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The stock has a market cap of $429.24 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 5.43 and a beta of 0.97. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The company’s 50-day moving average price is $960.40 and its two-hundred day moving average price is $975.04.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s payout ratio is presently 29.50%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of the company’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 sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,147 shares of company stock worth $5,031,130 over the last three months. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Company Profile

(Free Report)

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.

Further Reading

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