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

RBA Wealth Management LLC cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 394 shares of the retailer’s stock after selling 30 shares during the quarter. RBA Wealth Management LLC’s holdings in Costco Wholesale were worth $390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bulwark Capital Corp purchased a new position in Costco Wholesale during the 2nd quarter worth approximately $25,000. Anderson Financial Strategies LLC raised its stake 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 in the last quarter. eCIO Inc. acquired a new position in Costco Wholesale during the 1st quarter worth approximately $48,000. Aspect Partners LLC raised its stake in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after purchasing an additional 11 shares in the last quarter. Finally, Bank & Trust Co grew its holdings in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock worth $61,000 after acquiring an additional 11 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $915.95 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $955.70 and a two-hundred day simple moving average of $971.07. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The company has a market cap of $406.21 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. The company 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 31.10% and a net margin of 2.94%.Costco Wholesale’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.15 EPS. As a group, equities analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is currently 28.56%.

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COST. Truist Financial cut their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a report on Friday. Wolfe Research began coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They set a “peer perform” rating on the stock. Oppenheimer reissued an “outperform” rating and issued a $1,130.00 target price on shares of Costco Wholesale in a report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a report on Friday. Finally, DA Davidson reiterated a “neutral” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research note on Friday. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,069.58.

Costco Wholesale 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.