Lynx Investment Advisory Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)

Lynx Investment Advisory purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 308 shares of the retailer’s stock, valued at approximately $262,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fragasso Financial Advisors Inc raised its stake in shares of Costco Wholesale by 6.1% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 746 shares of the retailer’s stock valued at $634,000 after acquiring an additional 43 shares during the period. Monterey Private Wealth Inc. grew its holdings in shares of Costco Wholesale by 0.5% in the second quarter. Monterey Private Wealth Inc. now owns 3,956 shares of the retailer’s stock valued at $3,362,000 after purchasing an additional 21 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Costco Wholesale by 68.4% in the second quarter. Mather Group LLC. now owns 13,411 shares of the retailer’s stock valued at $11,399,000 after purchasing an additional 5,447 shares in the last quarter. Great Waters Wealth Management grew its holdings in shares of Costco Wholesale by 1.0% in the second quarter. Great Waters Wealth Management now owns 1,745 shares of the retailer’s stock valued at $1,483,000 after purchasing an additional 18 shares in the last quarter. Finally, RVW Wealth LLC grew its holdings in shares of Costco Wholesale by 6.2% in the second quarter. RVW Wealth LLC now owns 723 shares of the retailer’s stock valued at $614,000 after purchasing an additional 42 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on COST shares. Barclays lifted their price objective on shares of Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Citigroup lifted their price objective on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Bank of America lifted their price objective on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. BMO Capital Markets reiterated an “outperform” rating and set a $875.00 price target (up previously from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Finally, Truist Financial boosted their price target on shares of Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $806.42.

Costco Wholesale Stock Performance

COST stock traded up $15.05 during trading on Tuesday, hitting $816.88. The company had a trading volume of 2,475,018 shares, compared to its average volume of 2,001,582. The firm has a market cap of $362.15 billion, a PE ratio of 51.19, a price-to-earnings-growth ratio of 5.49 and a beta of 0.78. Costco Wholesale Co. has a 1-year low of $530.56 and a 1-year high of $896.67. The firm has a 50-day moving average price of $843.43 and a 200-day moving average price of $773.00. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.08. The firm had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.43 EPS. On average, analysts expect that Costco Wholesale Co. will post 15.97 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 26th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

Insiders Place Their Bets

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,350 shares of company stock worth $2,837,131. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Company Profile

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.