Baron Wealth Management LLC Increases Holdings in Costco Wholesale Corporation $COST

by · The Cerbat Gem

Baron Wealth Management LLC grew its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 62.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 412 shares of the retailer’s stock after buying an additional 158 shares during the quarter. Baron Wealth Management LLC’s holdings in Costco Wholesale were worth $408,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale in the 4th quarter worth about $25,000. Bulwark Capital Corp purchased a new stake in Costco Wholesale in the 2nd quarter worth about $25,000. Anderson Financial Strategies LLC raised its position 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 purchasing an additional 36 shares during the period. eCIO Inc. purchased a new stake in Costco Wholesale in the 1st quarter worth about $48,000. Finally, Aspect Partners LLC raised its position in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Evercore ISI dropped their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 17th. Wall Street Zen upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Loop Capital dropped their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Finally, Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research note on Thursday, May 29th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $1,056.67.

View Our Latest Research Report on Costco Wholesale

Insiders Place Their Bets

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the executive vice president directly owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Down 0.8%

NASDAQ:COST opened at $952.07 on Wednesday. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The firm has a 50 day moving average of $959.09 and a 200 day moving average of $973.54. 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 capitalization of $422.22 billion, a price-to-earnings ratio of 54.00, a PEG ratio of 5.40 and a beta of 0.97.

Costco Wholesale Dividend Announcement

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

About Costco Wholesale

(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.

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