Tiemann Investment Advisors LLC Sells 55 Shares of Costco Wholesale Corporation $COST

Tiemann Investment Advisors LLC lessened its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,610 shares of the retailer’s stock after selling 55 shares during the quarter. Costco Wholesale accounts for approximately 1.1% of Tiemann Investment Advisors LLC’s investment portfolio, making the stock its 16th biggest position. Tiemann Investment Advisors LLC’s holdings in Costco Wholesale were worth $2,584,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Bulwark Capital Corp acquired a new stake in Costco Wholesale during the second quarter worth approximately $25,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth $31,000. Anderson Financial Strategies LLC increased its position in shares of 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. Financial Connections Group Inc. raised its stake in 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 purchasing an additional 39 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its position in Costco Wholesale by 72.0% during the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock worth $43,000 after purchasing an additional 18 shares during the period. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $915.56 on Tuesday. The stock has a market cap of $405.76 billion, a price-to-earnings ratio of 50.28, a P/E/G ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a twelve month low of $871.71 and a twelve month high of $1,078.23. The company’s fifty day moving average is $937.57 and its 200 day moving average is $968.23. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

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. The firm had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $5.15 EPS. Sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Erste Group Bank lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. BTIG Research assumed coverage on Costco Wholesale in a report on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 price target for the company. The Goldman Sachs Group lifted their target price on Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. reduced their price target on shares of Costco Wholesale from $1,050.00 to $1,025.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Citigroup lowered their price objective on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,063.88.

Insider Activity

In other news, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the transaction, the executive vice president directly owned 9,740 shares of the company’s stock, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 7,920 shares of company stock valued at $7,373,175. Company insiders own 0.18% of the company’s stock.

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.