Fielder Capital Group LLC has reduced its holdings in shares of Costco Wholesale Corporation by 2.9% during the second quarter of 2023. According to HoldingsChannel.com, the firm now owns 2,087 shares after selling 63 shares, with its total investment valued at approximately $2,066,000 based on the latest filing with the Securities and Exchange Commission.
Several other institutional investors have also adjusted their positions in Costco. Bulwark Capital Corp acquired a new stake valued at around $25,000, while Anderson Financial Strategies LLC significantly increased its holdings by 900.0% in the first quarter, now owning 40 shares worth $38,000. Similarly, Financial Connections Group Inc. boosted its stake by 975.0% in the second quarter, bringing its total to 43 shares valued at $42,000 after acquiring an additional 39 shares.
Another notable increase came from Frazier Financial Advisors LLC, which raised its stake by 72.0%, now owning 43 shares worth $43,000. Additionally, eCIO Inc. purchased a new stake in the first quarter valued at approximately $48,000. Currently, institutional investors and hedge funds collectively own 68.48% of Costco’s stock.
Costco’s Stock Performance and Dividend Announcement
On Friday, October 27, 2023, Costco’s stock opened at $932.14. Over the past year, the stock has experienced a low of $867.34 and a high of $1,078.23. Costco operates with a market capitalization of $413.11 billion and a price-to-earnings ratio of 51.19. The company’s stock has a 50-day moving average price of $945.23 and a 200-day moving average price of $971.67.
In a recent announcement, Costco declared a quarterly dividend of $1.30 per share, set to be paid on November 14, 2023. Shareholders of record as of October 31, 2023, will receive this dividend, representing an annualized total of $5.20 and a dividend yield of 0.6%. The company’s current dividend payout ratio stands at 28.56%.
Analyst Ratings and Insights
Costco has been the subject of various research reports from investment analysts. Recently, Truist Financial lowered its price target for Costco from $1,042.00 to $1,033.00, maintaining a “hold” rating. In contrast, Telsey Advisory Group reaffirmed an “outperform” rating and set a price target of $1,100.00. Daiwa Capital Markets also adjusted its price target downwards from $1,005.00 to $947.00, while maintaining a “neutral” rating.
The consensus among 30 investment analysts gives Costco a rating of “Moderate Buy” with an average target price of $1,068.15. Notably, 19 analysts have rated the stock as a Buy, while 11 have given it a Hold rating.
In insider trading news, Tiffany Marie Barbre, an insider, sold 1,239 shares on October 24, 2023, at an average price of $934.62, resulting in a total transaction value of approximately $1,157,994.18. Following this sale, Barbre holds 5,155 shares valued at around $4,817,966.10, marking a 19.38% decrease in her position.
Additionally, Russell D. Miller, Executive Vice President, sold 3,381 shares on September 29, 2023, at an average price of $915.00, totaling $3,093,615.00. Post-transaction, Miller holds 9,740 shares valued at approximately $8,912,100, reflecting a 25.77% decrease.
Costco Wholesale Corporation, headquartered in the United States, operates membership warehouses across multiple countries, including Puerto Rico, Canada, Mexico, Japan, the United Kingdom, and Australia, among others. The company offers a wide range of branded and private-label products to its customers.
For ongoing updates on Costco and other investment information, interested parties can visit the HoldingsChannel.com for the latest 13F filings and insider trades.
