Golden State Wealth Management LLC Lowers Stock Position in Costco Wholesale Corporation $COST

Golden State Wealth Management LLC reduced its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,882 shares of the retailer’s stock after selling 217 shares during the period. Golden State Wealth Management LLC’s holdings in Costco Wholesale were worth $3,843,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in COST. Peterson Wealth Services raised its position in shares of Costco Wholesale by 0.5% in the 2nd quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock worth $13,479,000 after acquiring an additional 72 shares in the last quarter. Fishman Jay A Ltd. MI raised its position in shares of Costco Wholesale by 3.5% in the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock worth $16,718,000 after acquiring an additional 575 shares in the last quarter. Independent Solutions Wealth Management LLC raised its position in shares of Costco Wholesale by 0.3% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock worth $20,430,000 after acquiring an additional 53 shares in the last quarter. Graybill Wealth Management LTD. bought a new position in shares of Costco Wholesale in the 1st quarter worth $3,095,000. Finally, Rossmore Private Capital raised its position in shares of Costco Wholesale by 0.9% in the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock worth $6,325,000 after acquiring an additional 62 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Costco Wholesale

In other news, insider Tiffany Marie Barbre sold 1,239 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $934.62, for a total value of $1,157,994.18. Following the sale, the insider owned 5,155 shares in the company, valued at $4,817,966.10. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was 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 owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,920 shares of company stock valued at $7,373,175 over the last three months. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Down 0.6%

Shares of COST stock opened at $935.03 on Thursday. The stock’s 50-day simple moving average is $938.96 and its 200-day simple moving average is $969.33. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The firm has a market capitalization of $414.39 billion, a PE ratio of 51.35, a P/E/G ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a fifty-two week low of $871.71 and a fifty-two week high of $1,078.23.

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

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a $1.30 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is currently 28.56%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. DA Davidson reissued a “neutral” rating and issued a $1,000.00 price target on shares of Costco Wholesale in a research report on Friday, September 26th. Sanford C. Bernstein reduced their target price on Costco Wholesale from $1,140.00 to $1,134.00 and set an “outperform” rating on the stock in a research report on Tuesday. Roth Capital set a $907.00 target price on Costco Wholesale and gave the company a “neutral” rating in a research report on Friday, September 26th. Truist Financial reduced their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. reduced 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 research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,064.85.

Costco Wholesale Company 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.