Tyler Stone Wealth Management Increases Stake in Costco Wholesale Co.

Tyler Stone Wealth Management has notably increased its investment in Costco Wholesale Co. (NASDAQ:COST) by 81.4% during the third quarter, as revealed in its latest filing with the Securities and Exchange Commission (SEC). The firm now holds 1,199 shares of Costco's stock after purchasing an additional 538 shares during this period. The total value of Tyler Stone Wealth Management's holdings in Costco Wholesale amounts to $1,063,000 as of the end of the most recent quarter.

Multiple institutional investors have also made adjustments to their positions in Costco. For instance, Resurgent Financial Advisors LLC raised its stake in Costco by 1.0% in the first quarter, bringing its total holdings to 1,371 shares valued at $1,004,000 after acquiring 14 additional shares in the last quarter. Similarly, China Universal Asset Management Co. Ltd. expanded its position in Costco by 22.3% during the same period, increasing its holdings to 7,719 shares worth $5,655,000 following the acquisition of 1,408 shares. NorthRock Partners LLC also augmented its stake by 18.2%, now owning 6,855 shares valued at $5,022,000 after buying an extra 1,054 shares. Additionally, Meeder Asset Management Inc. reported a remarkable increase of 2,358.9%, now holding 18,712 shares valued at $13,709,000 after acquiring 17,951 shares. Finally, Meeder Advisory Services Inc. raised its holdings by 7.0% in the same quarter, totaling 5,894 shares valued at $4,318,000. According to reports, institutional investors and hedge funds own 68.48% of Costco's stock.

Insider Transactions

In related news, executive vice president Richard A. Galanti sold 500 shares of Costco on August 13th for an average price of $863.88, resulting in a total transaction value of $431,940. After the sale, he retains ownership of 23,800 shares valued at approximately $20,560,344. This was a mere change in his position. The sale was disclosed in a filing available through the SEC. Furthermore, on October 24th, Galanti sold another 1,416 shares at an average price of $894.68, netting approximately $1,266,866.88. Following this transaction, he now holds 27,400 shares of Costco, valued at about $24,514,232. Over the previous three months, insiders have sold a total of 12,636 shares of the company, with a total value of $11,238,510. Corporate insiders currently own 0.18% of the company's stock.

Analyst Ratings

Many equity research analysts have provided updates regarding Costco shares. Deutsche Bank raised its price target for Costco stock from $925.00 to $927.00 while maintaining a "buy" rating. BMO Capital Markets affirmed an "outperform" rating, adjusting its target to $980.00 from $950.00. Barclays increased its target price for Costco from $830.00 to $850.00 and maintained an "equal weight" rating. TD Cowen boosted their target from $925.00 to $975.00, continuing to rate the stock as a "buy." Wells Fargo also upped its price target from $800.00 to $850.00 while sustaining an "equal weight" rating on the stock. Overall, ten analysts have issued hold ratings, while eighteen have given Costco a buy rating. According to MarketBeat, the company currently holds a consensus rating of "Moderate Buy" with an average price target of $905.30.

Costco’s Stock Performance

On Friday, Costco's shares rose by $29.87, reaching a price of $943.80. The total volume for that day was 3,277,090 shares, significantly higher than the average volume of 1,929,356. The company operates with a current ratio of 0.97, a quick ratio of 0.44, and a 0.25 debt-to-equity ratio. Costco's market capitalization stands at $418.17 billion, with a price-to-earnings (PE) ratio of 56.96 and a PEG ratio of 5.53, alongside a beta of 0.80. The stock has ranged between a one-year low of $562.01 and a high of $962.00. The fifty-day moving average price is $893.49, while the two-hundred-day moving average stands at $850.73.

Costco Wholesale last announced its quarterly earnings results on September 26th, reporting earnings per share of $5.15, surpassing analysts' expectations of $5.05 by $0.10. The company had a return on equity of 31.05% and a net margin of 2.90%, with revenues totaling $79.70 billion for the quarter, slightly below the consensus estimate of $79.91 billion. Compared to the same quarter from the previous year, earnings per share increased from $4.86, reflecting a 1.0% revenue growth year-over-year. Analysts project Costco will post 17.75 earnings per share for the current fiscal year.

Dividend Announcement

Recently, Costco declared a quarterly dividend of $1.16 per share to be paid on November 15th to shareholders recorded on November 1st, with an ex-dividend date of November 1st. This would translate into an annualized dividend of $4.64, offering a yield of 0.49%. Currently, the payout ratio for Costco Wholesale is 28.00%.

About Costco Wholesale

Costco Wholesale Corporation operates membership warehouses and sells a variety of products across numerous countries, including the United States, Canada, Mexico, Japan, the UK, and more. The company offers both branded and private-label merchandise across diverse categories.

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