Jackson Square Capital LLC Increases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

Jackson Square Capital LLC raised its stake in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,731 shares of the retailer’s stock after purchasing an additional 690 shares during the quarter. Costco Wholesale accounts for 1.7% of Jackson Square Capital LLC’s investment portfolio, making the stock its 15th biggest holding. Jackson Square Capital LLC’s holdings in Costco Wholesale were worth $6,854,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Connections Group Inc. boosted its stake 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 buying an additional 39 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of Costco Wholesale in the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. boosted its stake in shares of Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale in the second quarter valued at approximately $50,000. Finally, Fairway Wealth LLC boosted its stake in shares of Costco Wholesale by 230.0% in the second quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after buying an additional 46 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Costco Wholesale

In other news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the sale, the executive vice president now owns 23,800 shares of the company’s stock, valued at $20,560,344. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the transaction, the executive vice president now owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan L. Decker sold 620 shares of the stock in a transaction dated 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 transaction, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,636 shares of company stock valued at $11,238,510 over the last quarter. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on COST shares. DA Davidson reiterated a “neutral” rating and set a $880.00 target price on shares of Costco Wholesale in a research report on Thursday, October 10th. Barclays boosted their target price on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft boosted their target price on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Tigress Financial reiterated a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research report on Thursday, October 17th. Finally, Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a research report on Thursday, August 8th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus price target of $905.30.

View Our Latest Stock Report on Costco Wholesale

Costco Wholesale Price Performance

COST stock opened at $899.25 on Thursday. The stock has a 50-day moving average price of $891.92 and a two-hundred day moving average price of $848.69. Costco Wholesale Co. has a 12-month low of $562.01 and a 12-month high of $923.83. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The company has a market cap of $398.43 billion, a PE ratio of 54.27, a price-to-earnings-growth ratio of 5.45 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST – Get Free Report) last issued its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the prior year, the business earned $4.86 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. As a group, research analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Costco Wholesale Company Profile

(Free Report)

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.

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