Tritonpoint Wealth LLC Has $6.56 Million Holdings in Costco Wholesale Corporation $COST

Tritonpoint Wealth LLC cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,622 shares of the retailer’s stock after selling 352 shares during the period. Tritonpoint Wealth LLC’s holdings in Costco Wholesale were worth $6,556,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Corps Capital Advisors LLC boosted its holdings in Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after buying an additional 10 shares in the last quarter. Covestor Ltd raised its position in shares of Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after buying an additional 10 shares during the last quarter. Rooted Wealth Advisors Inc. raised its position in shares of Costco Wholesale by 2.6% in the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer’s stock valued at $404,000 after buying an additional 11 shares during the last quarter. Bank & Trust Co raised its position in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock valued at $61,000 after buying an additional 11 shares during the last quarter. Finally, Amplius Wealth Advisors LLC increased its position in Costco Wholesale by 1.3% during the first quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock worth $819,000 after purchasing an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 2.9%

Shares of NASDAQ:COST opened at $915.95 on Friday. The firm has a 50 day simple moving average of $955.70 and a 200-day simple moving average of $971.07. The company has a market capitalization of $406.21 billion, a PE ratio of 50.30, a P/E/G ratio of 5.15 and a beta of 0.97. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. The business had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 31.10%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $5.15 EPS. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $1.30 dividend. 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 presently 28.56%.

Analysts Set New Price Targets

Several brokerages have weighed in on COST. Wolfe Research began coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They set a “peer perform” rating for the company. Sanford C. Bernstein raised their price objective on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research note on Friday. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, DA Davidson reissued a “neutral” rating and issued a $1,000.00 price objective 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,069.58.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. 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 on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This 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.

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.