Petros Family Wealth LLC Cuts Position in Costco Wholesale Corporation $COST

Petros Family Wealth LLC decreased its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 12.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,475 shares of the retailer’s stock after selling 214 shares during the period. Costco Wholesale makes up about 1.3% of Petros Family Wealth LLC’s investment portfolio, making the stock its 19th largest position. Petros Family Wealth LLC’s holdings in Costco Wholesale were worth $1,460,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in COST. Bulwark Capital Corp acquired a new stake in shares of Costco Wholesale during the second quarter worth approximately $25,000. Anderson Financial Strategies LLC boosted its holdings in Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after purchasing an additional 36 shares during the period. eCIO Inc. acquired a new position in shares of Costco Wholesale during the first quarter valued at $48,000. Aspect Partners LLC boosted its holdings in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after acquiring an additional 11 shares during the period. Finally, Ransom Advisory Ltd acquired a new position in shares of Costco Wholesale during the first quarter valued at $61,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST opened at $915.38 on Monday. Costco Wholesale Corporation has a one year low of $867.34 and a one year high of $1,078.23. The company has a 50-day moving average of $953.54 and a two-hundred day moving average of $972.15. The stock has a market cap of $405.95 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 5.55 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping 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 company had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. During the same period last year, the company posted $5.15 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced 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 yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s payout ratio is 28.56%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated 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 transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the transaction, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock valued at $7,588,685 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COST. Wolfe Research began coverage on shares of Costco Wholesale in a report on Thursday, September 18th. They set a “peer perform” rating for the company. Erste Group Bank cut Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Oppenheimer restated an “outperform” rating and issued a $1,130.00 target price on shares of Costco Wholesale in a research report on Friday, September 26th. DA Davidson restated a “neutral” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. lowered their target price on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,067.19.

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.