Floyd Financial Group LLC Cuts Holdings in Costco Wholesale Corporation $COST

Floyd Financial Group LLC cut its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 23.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 494 shares of the retailer’s stock after selling 153 shares during the quarter. Floyd Financial Group LLC’s holdings in Costco Wholesale were worth $488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of Costco Wholesale by 106,402.1% in the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer’s stock valued at $7,717,744,000 after purchasing an additional 8,152,528 shares during the period. Nuveen LLC acquired a new position in Costco Wholesale during the first quarter worth about $3,461,159,000. Kingstone Capital Partners Texas LLC increased its holdings in Costco Wholesale by 418,980.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 2,359,422 shares of the retailer’s stock valued at $2,335,686,000 after buying an additional 2,358,859 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Costco Wholesale by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock valued at $40,332,515,000 after acquiring an additional 443,101 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of Costco Wholesale by 84.0% during the 1st quarter. National Bank of Canada FI now owns 812,188 shares of the retailer’s stock valued at $768,114,000 after acquiring an additional 370,806 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday. Wall Street Zen upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Loop Capital decreased their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research note on Thursday, May 29th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,061.30.

Costco Wholesale Stock Up 0.2%

COST opened at $945.27 on Thursday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The firm has a market cap of $419.21 billion, a P/E ratio of 53.62, a PEG ratio of 5.30 and a beta of 0.97. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The business’s fifty day simple moving average is $956.61 and its 200 day simple moving average is $970.80.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 29.50%.

Insider Transactions at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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.