Cornerstone Wealth Management LLC trimmed its stake in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) by 11.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,178 shares of the retailer’s stock after selling 394 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Costco Wholesale were worth $1,711,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Aspire Private Capital LLC acquired a new position in shares of Costco Wholesale during the 1st quarter worth $20,406,948,000. Mach 1 Financial Group LLC acquired a new position in shares of Costco Wholesale during the 1st quarter worth $22,359,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Costco Wholesale during the 4th quarter worth $26,000. 25 LLC acquired a new position in shares of Costco Wholesale during the 1st quarter worth $44,000. Finally, Guardian Wealth Advisors LLC acquired a new position in shares of Costco Wholesale during the 1st quarter worth $47,000. 66.31% of the stock is currently owned by institutional investors.
Costco Wholesale Trading Down 1.6 %
NASDAQ COST opened at $555.08 on Friday. The business has a 50 day simple moving average of $553.14 and a 200 day simple moving average of $521.36. Costco Wholesale Co. has a one year low of $447.90 and a one year high of $571.16. The stock has a market capitalization of $245.96 billion, a P/E ratio of 41.12, a P/E/G ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.08 and a quick ratio of 0.57.
Costco Wholesale Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were paid a $1.02 dividend. The ex-dividend date was Thursday, August 24th. This represents a $4.08 dividend on an annualized basis and a yield of 0.74%. Costco Wholesale’s dividend payout ratio (DPR) is presently 30.22%.
Insider Buying and Selling at Costco Wholesale
In other Costco Wholesale news, Director Susan L. Decker sold 1,565 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $533.00, for a total value of $834,145.00. Following the completion of the sale, the director now owns 13,329 shares of the company’s stock, valued at $7,104,357. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.
Analysts Set New Price Targets
Several research firms have commented on COST. Robert W. Baird increased their target price on Costco Wholesale from $535.00 to $550.00 in a research report on Friday, July 7th. Telsey Advisory Group reiterated an “outperform” rating and issued a $575.00 target price on shares of Costco Wholesale in a research report on Monday. Jefferies Financial Group increased their target price on Costco Wholesale from $610.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. VNET Group reiterated a “reiterates” rating on shares of Costco Wholesale in a research report on Thursday, June 29th. Finally, Truist Financial increased their target price on Costco Wholesale from $567.00 to $597.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $567.96.
View Our Latest Analysis on Costco Wholesale
Costco Wholesale Company Profile
(Free Report)
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
Further Reading
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