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

Tyler Stone Wealth Management has raised its investment in Costco Wholesale Co. (NASDAQ:COST) by a significant 81.4% in the third quarter, as reported in its latest filing with the Securities and Exchange Commission (SEC). Following this acquisition, the firm now holds 1,199 shares of Costco's stock, having purchased an additional 538 shares during the quarter. As of the end of the last quarter, Tyler Stone Wealth Management's stake in Costco was valued at approximately $1,063,000.

Other Institutional Investors' Activities

In addition to Tyler Stone Wealth Management, several other institutional investors have also adjusted their positions in Costco Wholesale. For instance, Resurgent Financial Advisors LLC increased its stake by 1.0% in the first quarter, bringing its total to 1,371 shares, valued at $1,004,000 after acquiring 14 more shares.

China Universal Asset Management Co. Ltd. enhanced its position by 22.3%, now owning 7,719 shares valued at $5,655,000 after purchasing an additional 1,408 shares. NorthRock Partners LLC boosted its stake by 18.2%, acquiring 6,855 shares valued at $5,022,000 after increasing its holdings by 1,054 shares.

Meeder Asset Management Inc. made an impressive increase in its stake, up by 2,358.9%, now holding 18,712 shares worth $13,709,000 after buying an additional 17,951 shares. Additionally, Meeder Advisory Services Inc. raised its position by 7.0%, holding 5,894 shares valued at $4,318,000 after acquiring 388 more shares. Notably, institutional investors and hedge funds collectively own about 68.48% of Costco's stock.

Recent Insider Trading

In other news regarding Costco, Executive Vice President Richard A. Galanti sold 500 shares at an average price of $863.88, resulting in a total value of approximately $431,940. Despite this transaction, he continues to own 23,800 shares valued at around $20,560,344. This particular sale was a minor change, representing a 0.00% decrease in his holdings.

Moreover, Galanti sold another batch of 1,416 shares on October 24th at an average price of $894.68, which brought in $1,266,866.88. Following this sale, he now owns 27,400 shares worth approximately $24,514,232. Over a three-month period, insiders have sold a total of 12,636 shares valued at $11,238,510. Corporate insiders retain 0.18% of the company's stock.

Analyst Ratings for Costco

Several analysts have recently updated their ratings and price targets for Costco Wholesale. Deutsche Bank Aktiengesellschaft raised its price target from $925.00 to $927.00, maintaining a "buy" rating. BMO Capital Markets set a new target of $980.00, up from $950.00, appending an "outperform" rating.

Barclays revised their price target up to $850.00 from $830.00 while maintaining an "equal weight" rating. TD Cowen increased their target to $975.00, affirming a "buy" rating. Wells Fargo & Company raised its target from $800.00 to $850.00 as well, giving an "equal weight" rating. Overall, ten analysts have provided a hold rating while eighteen analysts have rated the stock as a buy, resulting in a consensus rating of "Moderate Buy" and an average price target of $905.30.

Costco Wholesale Stock Performance

On the trading front, Costco Wholesale shares gained $29.87, closing at $943.80 with a volume of 3,277,090 shares, surpassing its average trading volume of 1,929,356. The company has a market capitalization of $418.17 billion, with a PE ratio of 56.96 and a PEG ratio of 5.53. The stock hit a 1-year low of $562.01 and peaked at $962.00.

In its most recent quarterly earnings report, Costco Wholesale announced earnings of $5.15 per share, exceeding the analysts' forecast of $5.05 by $0.10. The company's revenue stood at $79.70 billion for the quarter, slightly below the estimated $79.91 billion, but still reflecting a 1.0% increase from the previous year.

Dividend Announcement

Costco also declared a quarterly dividend of $1.16 per share, set to be paid on November 15th. The record date for shareholders is November 1st, with an ex-dividend date of the same day. This dividend amounts to an annualized total of $4.64, representing a yield of 0.49%, alongside a payout ratio of 28.00%.

About Costco Wholesale

Costco Wholesale Corporation operates membership warehouses globally, providing a variety of branded and private-label merchandise across multiple categories in countries including the United States, Canada, Mexico, and various others.

Investment, Stock, Market