Sage Mountain Advisors LLC Acquires 612 Shares of Costco Wholesale Co. (NASDAQ:COST)

Sage Mountain Advisors LLC increased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 30.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,643 shares of the retailer’s stock after buying an additional 612 shares during the period. Sage Mountain Advisors LLC’s holdings in Costco Wholesale were worth $2,247,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Frank Rimerman Advisors LLC purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Costco Wholesale in the first quarter worth $32,000. Vima LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth $34,000. DSM Capital Partners LLC bought a new stake in Costco Wholesale during the fourth quarter valued at $36,000. Finally, Financial Connections Group Inc. grew its position in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 0.6 %

Shares of COST stock traded up $5.75 during trading hours on Friday, reaching $892.38. The company’s stock had a trading volume of 1,933,485 shares, compared to its average volume of 1,963,146. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $395.62 billion, a P/E ratio of 55.29, a P/E/G ratio of 5.84 and a beta of 0.78. The firm’s fifty day simple moving average is $854.20 and its 200 day simple moving average is $794.02. Costco Wholesale Co. has a one year low of $539.31 and a one year high of $918.93.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.70 by $0.08. The business had revenue of $58.52 billion during the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.43 EPS. Equities research analysts expect that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s payout ratio is currently 28.75%.

Insiders Place Their Bets

In other news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock worth $4,252,856 over the last three months. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Roth Mkm reissued a “neutral” rating and issued a $676.00 price target (up previously from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Loop Capital raised their price objective on shares of Costco Wholesale from $940.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Bank of America lifted their price objective on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company increased their target price on Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $824.50.

About Costco Wholesale

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.