Purus Wealth Management LLC Has $13.25 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

18 Sep 2024, 17:42 by Amy Steele · The Cerbat Gem

Purus Wealth Management LLC lifted its position in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 4.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,591 shares of the retailer’s stock after acquiring an additional 660 shares during the quarter. Costco Wholesale accounts for 5.9% of Purus Wealth Management LLC’s portfolio, making the stock its 2nd largest position. Purus Wealth Management LLC’s holdings in Costco Wholesale were worth $13,252,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in COST. Gilbert & Cook Inc. increased its stake in Costco Wholesale by 57.3% in the 4th quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock worth $413,000 after buying an additional 228 shares during the period. Aveo Capital Partners LLC increased its stake in Costco Wholesale by 14.5% in the 4th quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after buying an additional 135 shares during the period. Gryphon Financial Partners LLC increased its stake in Costco Wholesale by 62.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,309 shares of the retailer’s stock worth $2,184,000 after buying an additional 1,274 shares during the period. TrinityPoint Wealth LLC increased its stake in Costco Wholesale by 15.5% in the 4th quarter. TrinityPoint Wealth LLC now owns 2,475 shares of the retailer’s stock worth $1,633,000 after buying an additional 332 shares during the period. Finally, Associated Banc Corp increased its stake in Costco Wholesale by 1.4% in the 4th quarter. Associated Banc Corp now owns 1,577 shares of the retailer’s stock worth $1,041,000 after buying an additional 22 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Tigress Financial raised their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. TD Cowen raised their target price on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Barclays raised their target price on shares of Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $844.52.

Get Our Latest Stock Analysis on Costco Wholesale

Costco Wholesale Trading Down 1.2 %

Shares of Costco Wholesale stock opened at $897.27 on Wednesday. The firm’s 50 day simple moving average is $862.32 and its two-hundred day simple moving average is $808.65. The firm has a market capitalization of $397.79 billion, a price-to-earnings ratio of 55.59, a PEG ratio of 5.56 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83.

Costco Wholesale Announces Dividend

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

Costco Wholesale Profile

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