Costco Wholesale Co. (NASDAQ:COST) Position Trimmed by 180 Wealth Advisors LLC

180 Wealth Advisors LLC decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,416 shares of the retailer’s stock after selling 409 shares during the period. Costco Wholesale comprises 1.2% of 180 Wealth Advisors LLC’s portfolio, making the stock its 10th largest holding. 180 Wealth Advisors LLC’s holdings in Costco Wholesale were worth $7,125,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Main Street Financial Solutions LLC increased its holdings in Costco Wholesale by 4.7% in the fourth quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock worth $1,164,000 after buying an additional 79 shares during the last quarter. Metis Global Partners LLC grew its position in Costco Wholesale by 15.6% in the fourth quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock worth $14,201,000 after acquiring an additional 2,909 shares in the last quarter. Zhang Financial LLC increased its stake in shares of Costco Wholesale by 3.8% during the 1st quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock worth $740,000 after purchasing an additional 37 shares during the last quarter. Strong Tower Advisory Services raised its holdings in shares of Costco Wholesale by 7.9% during the 1st quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock valued at $1,346,000 after purchasing an additional 137 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in shares of Costco Wholesale by 6.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 27,902 shares of the retailer’s stock valued at $18,418,000 after purchasing an additional 1,627 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,350 shares of company stock worth $2,837,131. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on COST. Robert W. Baird raised their target price on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Bank of America raised their price objective on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. TD Cowen upped their target price on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Telsey Advisory Group reissued an “outperform” rating and issued a $925.00 price target on shares of Costco Wholesale in a research report on Monday, August 5th. Finally, Evercore ISI reduced their price objective on shares of Costco Wholesale from $920.00 to $915.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $824.50.

Costco Wholesale Price Performance

NASDAQ:COST traded up $14.64 during mid-day trading on Thursday, hitting $877.35. The company’s stock had a trading volume of 1,835,031 shares, compared to its average volume of 1,989,957. The company has a market capitalization of $388.96 billion, a price-to-earnings ratio of 54.36, a P/E/G ratio of 5.73 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a fifty-two week low of $530.56 and a fifty-two week high of $896.67. The stock has a fifty day moving average of $847.25 and a 200-day moving average of $780.08.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.08. The company had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.43 EPS. As a group, equities analysts forecast that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale’s payout ratio is presently 28.75%.

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.