Fairway Wealth LLC Has $56,000 Stake in Costco Wholesale Co. (NASDAQ:COST)

Fairway Wealth LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 230.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66 shares of the retailer’s stock after acquiring an additional 46 shares during the period. Fairway Wealth LLC’s holdings in Costco Wholesale were worth $56,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Zhang Financial LLC increased its holdings in shares of Costco Wholesale by 3.8% during the 1st quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock worth $740,000 after purchasing an additional 37 shares during the period. Strong Tower Advisory Services raised its holdings in Costco Wholesale by 7.9% in the 1st quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock valued at $1,346,000 after acquiring an additional 137 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $3,871,000. J.W. Cole Advisors Inc. lifted its position in shares of Costco Wholesale by 52.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after acquiring an additional 2,620 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in shares of Costco Wholesale by 22.8% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock worth $3,003,000 after purchasing an additional 656 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on COST. Morgan Stanley raised their target price on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. TD Cowen increased their price objective on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Evercore ISI lifted their target price on shares of Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. DA Davidson reissued a “neutral” rating and issued a $780.00 price target on shares of Costco Wholesale in a research report on Friday, September 6th. Finally, Truist Financial lifted their price objective on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $844.52.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $907.87 on Tuesday. 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 firm has a 50 day simple moving average of $862.11 and a 200 day simple moving average of $807.61. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The firm has a market cap of $402.49 billion, a P/E ratio of 56.25, a P/E/G ratio of 5.56 and a beta of 0.80.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s payout ratio is currently 28.75%.

Insider Activity

In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock valued at $4,252,856 over the last 90 days. 0.18% of the stock is owned by company insiders.

About Costco Wholesale

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.