Tyler Stone Wealth Management Increases Stake in Costco Wholesale Co. (NASDAQ:COST)

Tyler Stone Wealth Management has significantly increased its investment in shares of Costco Wholesale Co. (NASDAQ:COST) by 81.4% during the third quarter, as reported in their latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 538 shares during the period, the firm now holds a total of 1,199 shares of the retail giant. As of the end of the quarter, these shares were valued at approximately $1,063,000.

In addition to Tyler Stone, several other institutional investors have recently adjusted their positions in Costco. Specifically, Resurgent Financial Advisors LLC raised its stake by 1.0% in the first quarter, bringing its total to 1,371 shares worth about $1,004,000 after acquiring 14 more shares. Similarly, China Universal Asset Management Co. Ltd. increased its position by 22.3%, now holding 7,719 shares valued at $5,655,000 after purchasing 1,408 shares. Likewise, NorthRock Partners LLC boosted its investment by 18.2%, holding 6,855 shares worth $5,022,000 after acquiring an additional 1,054 shares during this same time frame.

Moreover, Meeder Asset Management Inc. made noteworthy increases in its holdings by 2,358.9%, now owning 18,712 shares valued at about $13,709,000 following the purchase of 17,951 additional shares. Furthermore, Meeder Advisory Services Inc. also raised its stake by 7.0%, resulting in a total of 5,894 shares worth $4,318,000 after acquiring 388 shares last quarter. Overall, institutional investors and hedge funds own approximately 68.48% of Costco's outstanding shares.

Insider Transactions at Costco Wholesale

In recent developments, Richard A. Galanti, the Executive Vice President of Costco, sold 500 shares on August 13th for around $431,940, which at the time reflected a slight decrease of 0.00% in his holdings. Following this transaction, he still owns 23,800 shares valued at $20,560,344. Additionally, on October 24th, Galanti sold another 1,416 shares for about $1,266,866.88, further lowering his position, though he now maintains 27,400 shares valued at approximately $24,514,232. Over the recent three months, Costco insiders have sold a total of 12,636 shares valued at around $11,238,510, and corporate insiders currently hold about 0.18% of the company's stock.

Recent Analyst Ratings Changes

Several equity research analysts have updated their ratings for Costco Wholesale shares. Deutsche Bank Aktiengesellschaft has raised its price target from $925.00 to $927.00 and maintained a "buy" rating. BMO Capital Markets also reaffirmed an "outperform" rating, increasing their target from $950.00 to $980.00. Barclays shifted its price objective from $830.00 to $850.00, while TD Cowen set a new target of $975.00. Wells Fargo & Company similarly elevated their price target from $800.00 to $850.00. Generally, market analysts appear optimistic, with ten providing a hold rating and eighteen issuing buy ratings. The consensus for Costco is a "Moderate Buy" with an average price target of $905.30.

Costco Wholesale Stock Performance

On recent trading days, Costco Wholesale shares saw an increase, closing at $943.80, up by $29.87 with a total volume of 3,277,090 shares, higher than the average daily volume. Financial metrics for the company reflect a current ratio of 0.97, a quick ratio of 0.44, and a debt-to-equity ratio of 0.25. Costco's overall market capitalization stands at $418.17 billion, alongside a PE ratio of 56.96 and a PEG ratio of 5.53. The stock has moved between a one-year low of $562.01 and a one-year high of $962.00, with moving averages of $893.49 (50-day) and $850.73 (200-day).

Recently, Costco reported earnings results exceeding analysts' expectations, with $5.15 earnings per share, surpassing the consensus estimate of $5.05. This indicates robust performance, driven by a net revenue of $79.70 billion for the quarter, compared to an expected $79.91 billion. Year-over-year, the company's revenue saw a slight increase of 1.0%.

Costco Wholesale Dividend Announcement

In addition to its stock performance, Costco has announced a forthcoming quarterly dividend of $1.16 per share, to be distributed on November 15th to shareholders recorded on November 1st. This suggested dividend implies a yield of approximately 0.49%, with a payout ratio currently at 28.00%.

About Costco Wholesale

Costco Wholesale Corporation operates a chain of membership warehouse stores across various countries, including the United States, Canada, Mexico, and several others. The retailer provides a mix of branded and private-label products spanning a wide array of merchandise categories.

stocks, investment, Costco