Accuvest Global Advisors Invests $847,000 in Costco Wholesale Co. (COST) Stock

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Accuvest Global Advisors acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the second quarter, HoldingsChannel.com reports. The fund acquired 4,051 shares of the retailer’s stock, valued at approximately $847,000.

Other hedge funds have also made changes to their positions in the company. Park Avenue Securities LLC boosted its stake in Costco Wholesale by 12.8% in the second quarter. Park Avenue Securities LLC now owns 3,158 shares of the retailer’s stock valued at $657,000 after acquiring an additional 359 shares during the last quarter. Dean Capital Investments Management LLC bought a new position in Costco Wholesale in the second quarter valued at approximately $592,000. Schwab Charles Investment Management Inc. boosted its stake in Costco Wholesale by 1.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,800,072 shares of the retailer’s stock valued at $376,180,000 after acquiring an additional 23,227 shares during the last quarter. WINTON GROUP Ltd boosted its stake in Costco Wholesale by 63.1% in the first quarter. WINTON GROUP Ltd now owns 2,984 shares of the retailer’s stock valued at $562,000 after acquiring an additional 1,155 shares during the last quarter. Finally, YHB Investment Advisors Inc. boosted its stake in Costco Wholesale by 1.3% in the second quarter. YHB Investment Advisors Inc. now owns 54,053 shares of the retailer’s stock valued at $11,296,000 after acquiring an additional 696 shares during the last quarter. 72.19% of the stock is currently owned by hedge funds and other institutional investors.

COST opened at $228.54 on Wednesday. The firm has a market capitalization of $98.97 billion, a P/E ratio of 39.27, a P/E/G ratio of 2.80 and a beta of 0.95. Costco Wholesale Co. has a 12 month low of $150.06 and a 12 month high of $230.10. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 0.52.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 31st. The retailer reported $1.70 EPS for the quarter, beating the consensus estimate of $1.68 by $0.02. The business had revenue of $32.36 billion for the quarter, compared to analysts’ expectations of $31.89 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 EPS. equities analysts forecast that Costco Wholesale Co. will post 6.77 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $2.28 annualized dividend and a yield of 1.00%. Costco Wholesale’s dividend payout ratio is currently 39.18%.

In related news, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $195.45, for a total value of $586,350.00. Following the sale, the director now directly owns 8,654 shares of the company’s stock, valued at approximately $1,691,424.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James P. Murphy sold 15,000 shares of the business’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $219.22, for a total transaction of $3,288,300.00. Following the completion of the sale, the vice president now directly owns 33,834 shares in the company, valued at $7,417,089.48. The disclosure for this sale can be found here. Insiders sold a total of 41,491 shares of company stock worth $8,754,977 over the last ninety days. 0.58% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on COST shares. JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale from $206.00 to $212.00 and gave the company an “overweight” rating in a research note on Friday, June 1st. Gordon Haskett cut shares of Costco Wholesale from a “buy” rating to an “accumulate” rating in a research note on Wednesday, July 25th. Citigroup raised their price objective on shares of Costco Wholesale from $222.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. Royal Bank of Canada raised their price objective on shares of Costco Wholesale to $213.00 and gave the company an “outperform” rating in a research note on Tuesday, May 29th. Finally, Argus raised their price objective on shares of Costco Wholesale from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, May 30th. Nine research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and a consensus target price of $209.86.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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