OLD Mission Capital LLC Invests $493,000 in Costco Wholesale Co. (NASDAQ:COST)

Posted by Defense World Staff on Feb 27th, 2023

OLD Mission Capital LLC acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,043 shares of the retailer’s stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COST. HBK Sorce Advisory LLC boosted its position in shares of Costco Wholesale by 44.3% during the 3rd quarter. HBK Sorce Advisory LLC now owns 9,043 shares of the retailer’s stock valued at $4,272,000 after acquiring an additional 2,775 shares during the last quarter. Equitable Holdings Inc. grew its stake in Costco Wholesale by 12.2% in the 3rd quarter. Equitable Holdings Inc. now owns 7,086 shares of the retailer’s stock worth $3,347,000 after buying an additional 768 shares in the last quarter. PFS Investments Inc. increased its holdings in shares of Costco Wholesale by 45.8% in the 3rd quarter. PFS Investments Inc. now owns 1,089 shares of the retailer’s stock worth $514,000 after buying an additional 342 shares during the last quarter. MML Investors Services LLC raised its position in shares of Costco Wholesale by 6.9% during the 3rd quarter. MML Investors Services LLC now owns 62,985 shares of the retailer’s stock valued at $29,746,000 after buying an additional 4,077 shares in the last quarter. Finally, United Bank lifted its holdings in shares of Costco Wholesale by 1.2% during the 3rd quarter. United Bank now owns 5,590 shares of the retailer’s stock worth $2,640,000 after acquiring an additional 68 shares during the last quarter. 66.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Costco Wholesale

In related news, Director Susan L. Decker sold 952 shares of the company’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $483.00, for a total value of $459,816.00. Following the sale, the director now directly owns 18,920 shares of the company’s stock, valued at $9,138,360. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP James C. Klauer sold 2,500 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $503.69, for a total value of $1,259,225.00. Following the completion of the transaction, the executive vice president now directly owns 40,884 shares in the company, valued at approximately $20,592,861.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 952 shares of the business’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $483.00, for a total transaction of $459,816.00. Following the sale, the director now directly owns 18,920 shares in the company, valued at approximately $9,138,360. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. DA Davidson increased their target price on Costco Wholesale from $470.00 to $478.00 in a research note on Friday, January 6th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $520.00 target price (down previously from $550.00) on shares of Costco Wholesale in a research note on Tuesday, December 20th. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, February 21st. Sanford C. Bernstein started coverage on shares of Costco Wholesale in a research note on Tuesday, December 6th. They issued an “outperform” rating and a $586.00 price objective for the company. Finally, Tigress Financial decreased their target price on shares of Costco Wholesale from $678.00 to $635.00 and set a “buy” rating on the stock in a research report on Wednesday, December 21st. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $554.46.

Costco Wholesale Stock Down 0.9 %

Shares of Costco Wholesale stock opened at $488.61 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.47 and a debt-to-equity ratio of 0.30. Costco Wholesale Co. has a 12-month low of $406.51 and a 12-month high of $612.27. The company has a market cap of $216.81 billion, a P/E ratio of 36.93, a PEG ratio of 3.58 and a beta of 0.79. The company’s fifty day simple moving average is $486.10 and its two-hundred day simple moving average is $498.09.

Costco Wholesale (NASDAQ:COST – Get Rating) last announced its quarterly earnings results on Thursday, December 8th. The retailer reported $3.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.14 by ($0.04). Costco Wholesale had a net margin of 2.55% and a return on equity of 28.83%. The company had revenue of $54.44 billion for the quarter, compared to analysts’ expectations of $54.67 billion. Research analysts anticipate that Costco Wholesale Co. will post 14.27 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Friday, February 3rd were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, February 2nd. Costco Wholesale’s dividend payout ratio is currently 27.21%.

Costco Wholesale Company Profile

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Costco Wholesale Corp. engages in the operation of membership warehouses through wholly owned subsidiaries. It operates through the following geographical segments: United States, Canada, and Other International Operations. The company was founded by James D. Sinegal and Jeffrey H. Brotman in 1983 and is headquartered in Issaquah, WA.