Axxcess Wealth Management LLC Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)

Axxcess Wealth Management LLC raised its position in Costco Wholesale Co. (NASDAQ:COST) by 6.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,666 shares of the retailer’s stock after purchasing an additional 988 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Costco Wholesale were worth $13,317,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in COST. Frank Rimerman Advisors LLC purchased a new stake in Costco Wholesale during the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the first quarter valued at approximately $32,000. Financial Connections Group Inc. grew its holdings in shares of Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares in the last quarter. Vima LLC purchased a new stake in Costco Wholesale during the 4th quarter worth approximately $34,000. Finally, DSM Capital Partners LLC acquired a new stake in Costco Wholesale during the 4th quarter worth approximately $36,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COST has been the topic of a number of recent research reports. Barclays upped their price objective on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Roth Mkm reaffirmed a “neutral” rating and issued a $676.00 price target (up previously from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Morgan Stanley boosted their price objective on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Oppenheimer upped their target price on shares of Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $925.00 price target on shares of Costco Wholesale in a research note on Friday, September 6th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $844.52.

Insider Activity

In related news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred 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 completion of 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 sold 4,974 shares of company stock valued at $4,252,856. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST opened at $907.87 on Tuesday. The company’s 50 day simple moving average is $862.11 and its 200-day simple moving average is $807.61. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The firm has a market cap of $402.49 billion, a PE ratio of 56.25, a price-to-earnings-growth 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. Costco Wholesale’s dividend payout ratio is presently 28.75%.

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.