Costco Wholesale Corporation $COST Shares Sold by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 6,622 shares of the retailer’s stock after selling 352 shares during the period. Tritonpoint Wealth LLC’s holdings in Costco Wholesale were worth $6,556,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Coastline Trust Co boosted its stake in Costco Wholesale by 0.4% in the 2nd quarter. Coastline Trust Co now owns 9,730 shares of the retailer’s stock worth $9,632,000 after buying an additional 39 shares during the last quarter. Guardian Investment Management boosted its stake in Costco Wholesale by 11.1% in the 2nd quarter. Guardian Investment Management now owns 5,047 shares of the retailer’s stock worth $4,996,000 after buying an additional 504 shares during the last quarter. Worth Financial Advisory Group LLC boosted its stake in Costco Wholesale by 31.9% in the 2nd quarter. Worth Financial Advisory Group LLC now owns 567 shares of the retailer’s stock worth $562,000 after buying an additional 137 shares during the last quarter. XY Planning Network Inc. purchased a new position in shares of Costco Wholesale in the 2nd quarter worth about $550,000. Finally, BayBridge Capital Group LLC raised its holdings in shares of Costco Wholesale by 1.4% in the 2nd quarter. BayBridge Capital Group LLC now owns 1,855 shares of the retailer’s stock worth $1,836,000 after purchasing an additional 26 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wolfe Research assumed coverage on Costco Wholesale in a report on Thursday, September 18th. They issued a “peer perform” rating on the stock. Morgan Stanley cut their price objective on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a report on Friday. The Goldman Sachs Group raised their price objective on Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a report on Friday. Roth Capital set a $907.00 price objective on Costco Wholesale and gave the stock a “neutral” rating in a report on Friday. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Wednesday. Seventeen research 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,069.58.

Costco Wholesale Price Performance

COST stock opened at $915.95 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The stock’s 50 day moving average is $955.70 and its two-hundred day moving average is $971.07. The company has a market capitalization of $406.21 billion, a PE ratio of 50.30, a P/E/G ratio of 5.15 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a return on equity of 31.10% and a net margin of 2.94%.The company had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the previous year, the business earned $5.15 EPS. Costco Wholesale’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Costco Wholesale Profile

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.