HB Wealth Management LLC Sells 2,699 Shares of Costco Wholesale Corporation $COST

HB Wealth Management LLC lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 10.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,128 shares of the retailer’s stock after selling 2,699 shares during the quarter. HB Wealth Management LLC’s holdings in Costco Wholesale were worth $23,886,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Corps Capital Advisors LLC grew its stake in shares of Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after buying an additional 10 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after purchasing an additional 10 shares during the period. Bank & Trust Co lifted its holdings in shares of Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock worth $61,000 after purchasing an additional 11 shares during the period. Amplius Wealth Advisors LLC lifted its holdings in shares of Costco Wholesale by 1.3% during the first quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock worth $819,000 after purchasing an additional 11 shares during the period. Finally, Farrell Financial LLC lifted its holdings in shares of Costco Wholesale by 2.2% during the first quarter. Farrell Financial LLC now owns 522 shares of the retailer’s stock worth $493,000 after purchasing an additional 11 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale 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 sale, the executive vice president directly owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction 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 completion of the sale, the executive vice president directly owned 5,774 shares of the company’s stock, valued at approximately $5,629,419.04. This trade represents a 40.92% 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.

Costco Wholesale Price Performance

COST stock opened at $916.87 on Tuesday. The firm has a market cap of $406.61 billion, a price-to-earnings ratio of 50.35, a PEG ratio of 5.15 and a beta of 0.97. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The company’s fifty day simple moving average is $955.08 and its 200 day simple moving average is $971.72.

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

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s payout ratio is 28.56%.

Analyst Upgrades and Downgrades

COST has been the topic of a number of recent research reports. Evercore ISI cut their price target on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a report on Friday. Wolfe Research initiated coverage on shares of Costco Wholesale in a report on Thursday, September 18th. They set a “peer perform” rating on the stock. Truist Financial cut their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a report on Friday. Roth Capital set a $907.00 price target on shares of Costco Wholesale and gave the stock a “neutral” rating in a report on Friday. Finally, Morgan Stanley dropped their target price on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a report on Friday. Eighteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,072.00.

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.