RKL Wealth Management LLC decreased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,173 shares of the retailer’s stock after selling 390 shares during the quarter. RKL Wealth Management LLC’s holdings in Costco Wholesale were worth $4,798,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of COST. Horan Capital Advisors LLC. bought a new position in shares of Costco Wholesale during the first quarter worth $26,000. Thor Advisors LLC bought a new position in Costco Wholesale during the first quarter valued at $35,000. C J Advisory Inc bought a new position in Costco Wholesale during the first quarter valued at $36,000. JNBA Financial Advisors lifted its position in Costco Wholesale by 484.6% during the first quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock valued at $37,000 after purchasing an additional 126 shares during the last quarter. Finally, Canton Hathaway LLC lifted its position in Costco Wholesale by 41.0% during the second quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock valued at $37,000 after purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Several research firms have commented on COST. BidaskClub upgraded shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Oppenheimer increased their price objective on shares of Costco Wholesale from $270.00 to $295.00 in a research report on Wednesday, July 10th. Raymond James increased their price objective on shares of Costco Wholesale from $260.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Goldman Sachs Group began coverage on shares of Costco Wholesale in a research report on Thursday, July 11th. They set a “buy” rating and a $290.00 price objective for the company. Finally, Wells Fargo & Co increased their price objective on shares of Costco Wholesale from $225.00 to $240.00 and gave the company a “market perform” rating in a research report on Thursday, May 9th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and an average price target of $266.04.

In related news, Director Susan L. Decker sold 1,646 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total value of $441,539.50. Following the transaction, the director now owns 41,803 shares of the company’s stock, valued at approximately $11,213,654.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Decker sold 2,790 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $254.62, for a total transaction of $710,389.80. Following the completion of the transaction, the director now directly owns 45,405 shares in the company, valued at approximately $11,561,021.10. The disclosure for this sale can be found here. In the last three months, insiders sold 28,136 shares of company stock worth $7,380,374. Insiders own 0.21% of the company’s stock.

Shares of COST traded up $2.58 during midday trading on Friday, hitting $274.10. The stock had a trading volume of 1,230,800 shares, compared to its average volume of 1,822,696. Costco Wholesale Co. has a 1 year low of $189.51 and a 1 year high of $284.31. The firm has a market cap of $119.41 billion, a PE ratio of 40.13, a price-to-earnings-growth ratio of 3.81 and a beta of 0.95. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48. The stock’s 50 day moving average is $274.36 and its 200 day moving average is $247.55.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.06. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The business had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. During the same quarter in the prior year, the firm posted $1.70 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Costco Wholesale Co. will post 8.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, August 29th. Costco Wholesale’s dividend payout ratio is currently 38.07%.

Costco Wholesale declared that its board has approved a stock buyback program on Friday, April 26th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the retailer to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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