Lombard Odier Asset Management Switzerland SA Buys 1,480 Shares of Costco Wholesale Corporation $COST

Lombard Odier Asset Management Switzerland SA raised its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 8.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,132 shares of the retailer’s stock after acquiring an additional 1,480 shares during the period. Costco Wholesale makes up approximately 0.9% of Lombard Odier Asset Management Switzerland SA’s investment portfolio, making the stock its 17th largest position. Lombard Odier Asset Management Switzerland SA’s holdings in Costco Wholesale were worth $17,950,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bulwark Capital Corp bought a new stake in Costco Wholesale in the 2nd quarter valued at $25,000. LFA Lugano Financial Advisors SA bought a new position in Costco Wholesale during the 2nd quarter worth $31,000. Anderson Financial Strategies LLC lifted its holdings in shares of Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after buying an additional 36 shares in the last quarter. Financial Connections Group Inc. boosted its position in shares of Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock valued at $42,000 after acquiring an additional 39 shares during the period. Finally, Frazier Financial Advisors LLC grew its stake in shares of Costco Wholesale by 72.0% in the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock valued at $43,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, EVP Claudine Adamo sold 2,700 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $935.68, for a total value of $2,526,336.00. Following the completion of the transaction, the executive vice president owned 6,851 shares of the company’s stock, valued at $6,410,343.68. This represents a 28.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tiffany Marie Barbre sold 1,239 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the completion of the sale, the insider owned 5,155 shares in the company, valued at $4,817,966.10. This represents a 19.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,720 shares of company stock worth $9,010,257 over the last three months. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They issued a “peer perform” rating for the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Monday, December 1st. Morgan Stanley cut their price target on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Mizuho lowered their price objective on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Finally, Truist Financial cut their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research report on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,023.41.

Costco Wholesale Stock Down 0.8%

NASDAQ COST opened at $887.52 on Tuesday. The business has a fifty day moving average price of $919.09 and a two-hundred day moving average price of $953.83. The stock has a market capitalization of $394.02 billion, a PE ratio of 48.74, a PEG ratio of 6.07 and a beta of 1.00. Costco Wholesale Corporation has a fifty-two week low of $871.71 and a fifty-two week high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. During the same quarter in the previous year, the firm earned $5.15 EPS. Costco Wholesale’s revenue was up 8.1% on a year-over-year basis. Equities analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is 28.56%.

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.