Lyell Wealth Management LP Cuts Holdings in Costco Wholesale Co. (NASDAQ:COST)

by · The Cerbat Gem

Lyell Wealth Management LP lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,446 shares of the retailer’s stock after selling 264 shares during the quarter. Costco Wholesale accounts for 2.0% of Lyell Wealth Management LP’s holdings, making the stock its 9th biggest holding. Lyell Wealth Management LP’s holdings in Costco Wholesale were worth $14,941,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of COST. Inlet Private Wealth LLC increased its stake in Costco Wholesale by 0.3% in the second quarter. Inlet Private Wealth LLC now owns 5,535 shares of the retailer’s stock worth $2,980,000 after purchasing an additional 18 shares during the period. ETF Store Inc. increased its stake in Costco Wholesale by 3.6% in the second quarter. ETF Store Inc. now owns 522 shares of the retailer’s stock worth $289,000 after purchasing an additional 18 shares during the period. TrinityPoint Wealth LLC increased its stake in Costco Wholesale by 0.9% in the second quarter. TrinityPoint Wealth LLC now owns 2,134 shares of the retailer’s stock worth $1,149,000 after purchasing an additional 18 shares during the period. LaSalle St. Investment Advisors LLC increased its stake in Costco Wholesale by 1.2% in the second quarter. LaSalle St. Investment Advisors LLC now owns 1,520 shares of the retailer’s stock worth $818,000 after purchasing an additional 18 shares during the period. Finally, Mendel Money Management increased its stake in Costco Wholesale by 2.0% in the second quarter. Mendel Money Management now owns 935 shares of the retailer’s stock worth $504,000 after purchasing an additional 18 shares during the period. Institutional investors own 66.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COST shares. Argus increased their target price on Costco Wholesale from $630.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. UBS Group raised their price target on Costco Wholesale from $640.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, December 15th. Stifel Nicolaus raised their price target on Costco Wholesale from $615.00 to $675.00 and gave the company a “buy” rating in a research note on Friday, December 15th. Oppenheimer raised their price target on Costco Wholesale from $675.00 to $695.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, Truist Financial raised their price target on Costco Wholesale from $693.00 to $741.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $632.40.

View Our Latest Report on COST

Insider Buying and Selling

In related news, insider Daniel M. Hines sold 1,400 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $662.30, for a total transaction of $927,220.00. Following the completion of the transaction, the insider now directly owns 13,922 shares in the company, valued at $9,220,540.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Richard A. Galanti sold 1,112 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $680.21, for a total transaction of $756,393.52. Following the completion of the transaction, the chief financial officer now directly owns 24,300 shares in the company, valued at $16,529,103. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel M. Hines sold 1,400 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $662.30, for a total value of $927,220.00. Following the transaction, the insider now owns 13,922 shares of the company’s stock, valued at $9,220,540.60. The disclosure for this sale can be found here. Insiders sold 14,577 shares of company stock valued at $8,447,008 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock traded up $9.66 on Friday, reaching $683.24. 2,388,399 shares of the stock were exchanged, compared to its average volume of 2,508,228. The company has a quick ratio of 0.60, a current ratio of 1.09 and a debt-to-equity ratio of 0.22. Costco Wholesale Co. has a twelve month low of $465.33 and a twelve month high of $683.72. The firm has a market capitalization of $303.17 billion, a price-to-earnings ratio of 46.57, a PEG ratio of 4.94 and a beta of 0.76. The business has a 50 day moving average price of $624.01 and a two-hundred day moving average price of $578.19.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its earnings results on Thursday, December 14th. The retailer reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.07. Costco Wholesale had a return on equity of 27.44% and a net margin of 2.65%. The firm had revenue of $57.80 billion during the quarter, compared to the consensus estimate of $57.79 billion. During the same quarter in the previous year, the company posted $3.10 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Analysts anticipate that Costco Wholesale Co. will post 15.59 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently announced a special dividend, which was paid on Friday, January 12th. Investors of record on Thursday, December 28th were issued a dividend of $15.00 per share. This is an increase from Costco Wholesale’s previous special dividend of $10.00. The ex-dividend date of this dividend was Wednesday, December 27th. Costco Wholesale’s payout ratio is 27.81%.

About Costco Wholesale

(Free Report)

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.

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