Zega Financial LLC Increases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Zega Financial LLC boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 540.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,627 shares of the retailer’s stock after acquiring an additional 3,061 shares during the quarter. Costco Wholesale comprises about 0.5% of Zega Financial LLC’s holdings, making the stock its 18th largest holding. Zega Financial LLC’s holdings in Costco Wholesale were worth $3,083,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of COST. Frank Rimerman Advisors LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale during the 1st quarter worth approximately $32,000. Vima LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at approximately $34,000. DSM Capital Partners LLC purchased a new position in shares of Costco Wholesale during the 4th quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. grew its position in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Down 1.2 %

COST opened at $897.27 on Wednesday. The stock’s 50 day moving average price is $862.32 and its 200 day moving average price is $808.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The stock has a market cap of $397.79 billion, a P/E ratio of 55.59, a P/E/G ratio of 5.56 and a beta of 0.80. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders 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 dividend yield of 0.52%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COST. Citigroup upped their price target on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Wells Fargo & Company upped their target price on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Morgan Stanley lifted their price target on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Argus upped their price objective on Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Truist Financial lifted their target price on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $844.52.

Insider Activity at Costco Wholesale

In related news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction dated 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 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 link. In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the sale, the insider now owns 10,992 shares of the company’s stock, valued at $9,327,041.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the 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 transaction, 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. Insiders have sold a total of 4,974 shares of company stock worth $4,252,856 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

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.