Maia Wealth LLC Acquires Shares of 354 Costco Wholesale Co. (NASDAQ:COST)

Maia Wealth LLC bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 354 shares of the retailer’s stock, valued at approximately $301,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. Oak Asset Management LLC raised its stake in shares of Costco Wholesale by 0.3% during the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares during the period. Bedel Financial Consulting Inc. grew its holdings in Costco Wholesale by 1.3% during the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock valued at $729,000 after purchasing an additional 13 shares in the last quarter. Boltwood Capital Management increased its stake in Costco Wholesale by 1.7% during the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock worth $671,000 after buying an additional 13 shares during the period. LifePro Asset Management lifted its holdings in Costco Wholesale by 3.8% in the 2nd quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock worth $304,000 after buying an additional 13 shares in the last quarter. Finally, Southland Equity Partners LLC boosted its position in Costco Wholesale by 2.3% in the 2nd quarter. Southland Equity Partners LLC now owns 574 shares of the retailer’s stock valued at $488,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insiders Place Their Bets

In related news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction 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 directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 $5,041,057.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,350 shares of company stock worth $2,837,131. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

Shares of COST stock traded up $1.59 during midday trading on Wednesday, reaching $866.41. 41,100 shares of the company were exchanged, compared to its average volume of 1,982,615. The company’s 50 day moving average price is $846.68 and its two-hundred day moving average price is $779.49. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The company has a market cap of $384.11 billion, a P/E ratio of 53.58, a PEG ratio of 5.49 and a beta of 0.78. Costco Wholesale Co. has a 12 month low of $530.56 and a 12 month high of $896.67.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping 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 quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.43 earnings per share. On average, sell-side analysts expect that Costco Wholesale Co. will post 15.97 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s payout ratio is currently 28.75%.

Analysts Set New Price Targets

Several research firms have issued reports on COST. Barclays lifted their price objective on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a report on Thursday, August 8th. Stifel Nicolaus upped their target price on shares of Costco Wholesale from $900.00 to $950.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Truist Financial boosted their price objective on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Bank of America lifted their target price on Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $824.50.

Costco Wholesale 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.