Lake Street Financial LLC Has $4.79 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Lake Street Financial LLC lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 23.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,313 shares of the retailer’s stock after selling 2,535 shares during the quarter. Costco Wholesale comprises 0.8% of Lake Street Financial LLC’s portfolio, making the stock its 24th largest holding. Lake Street Financial LLC’s holdings in Costco Wholesale were worth $4,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new stake in shares of Costco Wholesale in the first quarter valued at approximately $26,000. Evolution Advisers Inc. bought a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $28,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $30,000. Mystic Asset Management Inc. bought a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $40,000. Finally, Lansing Street Advisors bought a new position in Costco Wholesale in the first quarter worth $41,000. Institutional investors own 67.52% of the company’s stock.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, VP James P. Murphy sold 2,500 shares of the company’s stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $464.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the vice president now directly owns 37,730 shares in the company, valued at $17,506,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total transaction of $787,800.00. Following the completion of the sale, the vice president now directly owns 36,230 shares in the company, valued at approximately $19,027,996. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP James P. Murphy sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $464.00, for a total value of $1,160,000.00. Following the completion of the sale, the vice president now owns 37,730 shares of the company’s stock, valued at $17,506,720. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,300 shares of company stock worth $2,609,904. Company insiders own 0.22% of the company’s stock.

Costco Wholesale Stock Down 0.5 %

Shares of COST stock opened at $540.67 on Friday. The firm has a fifty day moving average of $492.92 and a 200-day moving average of $515.12. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 12-month low of $406.51 and a 12-month high of $612.27. The company has a market capitalization of $239.50 billion, a price-to-earnings ratio of 42.57, a P/E/G ratio of 4.53 and a beta of 0.69.

Costco Wholesale (NASDAQ:COSTGet Rating) last released its earnings results on Thursday, May 26th. The retailer reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.17. The business had revenue of $52.60 billion during the quarter, compared to the consensus estimate of $51.49 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.75 earnings per share. As a group, equities research analysts predict that Costco Wholesale Co. will post 13.05 earnings per share for the current fiscal year.

Costco Wholesale Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date of this dividend is Thursday, July 28th. Costco Wholesale’s dividend payout ratio is presently 28.35%.

Analyst Ratings Changes

Several research analysts have issued reports on COST shares. Credit Suisse Group dropped their price objective on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Deutsche Bank Aktiengesellschaft upgraded Costco Wholesale from a “hold” rating to a “buy” rating and increased their price objective for the stock from $525.00 to $579.00 in a research note on Thursday, July 14th. StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. The Goldman Sachs Group raised their target price on Costco Wholesale from $516.00 to $573.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BMO Capital Markets restated a “buy” rating and issued a $580.00 target price on shares of Costco Wholesale in a research note on Monday, May 30th. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and an average target price of $576.68.

Costco Wholesale Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

Further Reading

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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