Kentucky Retirement Systems Cuts Stock Holdings in Costco Wholesale Corporation $COST

Kentucky Retirement Systems lessened its position in Costco Wholesale Corporation (NASDAQ:COST) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,418 shares of the retailer’s stock after selling 1,863 shares during the quarter. Costco Wholesale comprises 0.8% of Kentucky Retirement Systems’ holdings, making the stock its 17th largest position. Kentucky Retirement Systems’ holdings in Costco Wholesale were worth $28,132,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bulwark Capital Corp acquired a new stake in Costco Wholesale during the 2nd quarter worth $25,000. Soundwatch Capital LLC lifted its stake in shares of Costco Wholesale by 635.7% in the second quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer’s stock worth $25,000 after buying an additional 2,206 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new position in Costco Wholesale during the second quarter worth about $31,000. Anderson Financial Strategies LLC boosted its position in 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 acquiring an additional 36 shares during the last quarter. Finally, Financial Connections Group Inc. grew its stake in Costco Wholesale by 975.0% during the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock valued at $42,000 after acquiring an additional 39 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP William Richard Wilcox sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $930.13, for a total value of $2,232,312.00. Following the sale, the executive vice president owned 2,000 shares of the company’s stock, valued at $1,860,260. The trade was a 54.55% 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 Claudine Adamo sold 2,700 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the transaction, the executive vice president owned 6,851 shares in the company, valued at $6,410,343.68. This trade represents a 28.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,720 shares of company stock valued at $9,010,257 over the last 90 days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ:COST opened at $884.47 on Friday. Costco Wholesale Corporation has a 52 week low of $867.12 and a 52 week high of $1,078.23. The stock’s fifty day moving average is $916.22 and its two-hundred day moving average is $950.64. The company has a market capitalization of $392.67 billion, a P/E ratio of 47.37, a P/E/G ratio of 6.00 and a beta of 1.00. 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 issued its quarterly earnings data on Thursday, December 11th. The retailer reported $4.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.27 by $0.07. The firm had revenue of $67.31 billion during the quarter, compared to the consensus estimate of $67.03 billion. Costco Wholesale had a return on equity of 30.16% and a net margin of 2.96%.The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $4.04 EPS. Equities analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a dividend of $1.30 per share. The ex-dividend date was 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 (DPR) is currently 28.56%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BTIG Research assumed coverage on shares of Costco Wholesale in a research note on Tuesday, October 14th. They issued a “buy” rating and a $1,115.00 target price on the stock. Sanford C. Bernstein lifted their price objective on Costco Wholesale from $1,134.00 to $1,146.00 and gave the stock an “outperform” rating in a research report on Friday. Oppenheimer dropped their target price on Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Roth Capital set a $907.00 price target on Costco Wholesale and gave the stock a “neutral” rating in a report on Friday, September 26th. Finally, UBS Group reissued a “buy” rating on shares of Costco Wholesale in a research report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $998.70.

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.