Cabot Wealth Management Inc. Sells 14 Shares of Costco Wholesale Corporation $COST

Cabot Wealth Management Inc. cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 6.1% in the second quarter, Holdings Channel reports. The fund owned 215 shares of the retailer’s stock after selling 14 shares during the period. Cabot Wealth Management Inc.’s holdings in Costco Wholesale were worth $213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in COST. Bulwark Capital Corp bought a new position in Costco Wholesale during the 2nd quarter valued at about $25,000. Anderson Financial Strategies LLC increased its holdings in shares of Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after buying an additional 36 shares in the last quarter. Financial Connections Group Inc. raised its stake in shares of Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock valued at $42,000 after acquiring an additional 39 shares during the last quarter. Frazier Financial Advisors LLC boosted its holdings in shares of Costco Wholesale by 72.0% in the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock worth $43,000 after acquiring an additional 18 shares in the last quarter. Finally, eCIO Inc. bought a new stake in Costco Wholesale during the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 2,700 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the completion of the transaction, the executive vice president directly owned 6,851 shares of the company’s stock, valued at $6,410,343.68. This trade represents a 28.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,920 shares of company stock valued at $7,373,175. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COST has been the topic of a number of recent analyst reports. Mizuho reduced their price objective on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Argus increased their price objective on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Evercore ISI dropped their target price on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. The Goldman Sachs Group boosted their price objective on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, Erste Group Bank lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,068.15.

Costco Wholesale Price Performance

COST opened at $932.14 on Friday. The company has a fifty day moving average price of $945.23 and a two-hundred day moving average price of $972.11. The firm has a market capitalization of $413.11 billion, a PE ratio of 51.19, a P/E/G ratio of 5.66 and a beta of 0.98. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results 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 30.09% and a net margin of 2.94%.The business had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same period last year, the company earned $5.15 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be 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 is Friday, October 31st. Costco Wholesale’s dividend payout ratio is presently 28.56%.

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.