CCG Wealth Management LLC Purchases 15 Shares of Costco Wholesale Co. (NASDAQ:COST)

CCG Wealth Management LLC lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 1.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 916 shares of the retailer’s stock after acquiring an additional 15 shares during the period. CCG Wealth Management LLC’s holdings in Costco Wholesale were worth $779,000 at the end of the most recent quarter.

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

Costco Wholesale Stock Performance

Shares of COST stock traded up $5.75 during mid-day trading on Friday, reaching $892.38. The stock had a trading volume of 1,933,485 shares, compared to its average volume of 1,775,800. Costco Wholesale Co. has a 1-year low of $539.31 and a 1-year high of $918.93. The firm has a market cap of $395.62 billion, a price-to-earnings ratio of 55.29, a PEG ratio of 5.98 and a beta of 0.78. 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 business’s fifty day moving average is $854.20 and its 200-day moving average is $794.58.

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

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Insider Activity at Costco Wholesale

In related news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the sale, the executive vice president now directly owns 22,900 shares in the company, valued at $20,015,745. 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

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Roth Mkm restated a “neutral” rating and set a $676.00 price objective (up from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Evercore ISI dropped their price target on Costco Wholesale from $920.00 to $915.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Argus lifted their price objective on Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, BMO Capital Markets increased their target price on shares of Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.