AlTi Global Inc. Purchases 294 Shares of Costco Wholesale Corporation $COST

AlTi Global Inc. lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 14.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,357 shares of the retailer’s stock after buying an additional 294 shares during the quarter. AlTi Global Inc.’s holdings in Costco Wholesale were worth $2,334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of COST. Nuveen LLC purchased a new stake in shares of Costco Wholesale during the 1st quarter worth approximately $3,461,159,000. Kingstone Capital Partners Texas LLC increased its stake in shares of Costco Wholesale by 418,980.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,359,422 shares of the retailer’s stock worth $2,335,686,000 after purchasing an additional 2,358,859 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Costco Wholesale by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock worth $40,332,515,000 after purchasing an additional 443,101 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Costco Wholesale by 84.0% during the 1st quarter. National Bank of Canada FI now owns 812,188 shares of the retailer’s stock worth $768,114,000 after purchasing an additional 370,806 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in shares of Costco Wholesale by 2,369.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 323,288 shares of the retailer’s stock worth $320,036,000 after purchasing an additional 310,197 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity

In other Costco Wholesale news, insider Tiffany Marie Barbre sold 1,239 shares of the business’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $934.62, for a total value of $1,157,994.18. Following the transaction, the insider owned 5,155 shares in the company, valued at approximately $4,817,966.10. The trade was a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the transaction, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. The trade was a 25.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,920 shares of company stock worth $7,373,175 over the last ninety days. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COST. The Goldman Sachs Group raised their price target on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Roth Capital set a $907.00 price objective on shares of Costco Wholesale and gave the company a “neutral” rating in a research note on Friday, September 26th. Argus lifted their price objective on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Sanford C. Bernstein lifted their price objective on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Finally, BTIG Research initiated coverage on shares of Costco Wholesale in a research note on Tuesday, October 14th. They issued a “buy” rating and a $1,115.00 price objective for the company. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $1,068.15.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $932.14 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $413.11 billion, a PE ratio of 51.19, a P/E/G ratio of 5.72 and a beta of 0.98. The firm has a fifty day simple moving average of $945.23 and a two-hundred day simple moving average of $971.67. Costco Wholesale Corporation has a twelve month low of $867.34 and a twelve month high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.06. The business had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.15 earnings per share. Research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a $1.30 dividend. The ex-dividend date is Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s payout ratio is presently 28.56%.

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.