RKL Wealth Management LLC Cuts Stock Holdings in Costco Wholesale Corporation $COST

RKL Wealth Management LLC trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,497 shares of the retailer’s stock after selling 580 shares during the period. Costco Wholesale comprises approximately 1.3% of RKL Wealth Management LLC’s portfolio, making the stock its 20th largest position. RKL Wealth Management LLC’s holdings in Costco Wholesale were worth $15,341,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COST. Bulwark Capital Corp purchased a new stake in Costco Wholesale during the second quarter valued at about $25,000. Anderson Financial Strategies LLC boosted its holdings in shares of 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 purchasing an additional 36 shares during the period. eCIO Inc. purchased a new stake in shares of Costco Wholesale during the first quarter worth about $48,000. Aspect Partners LLC boosted its holdings in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares during the period. Finally, Ransom Advisory Ltd purchased a new stake in shares of Costco Wholesale during the first quarter worth about $61,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Down 0.9%

Shares of COST stock opened at $917.34 on Thursday. The stock has a market cap of $406.82 billion, a P/E ratio of 50.38, a PEG ratio of 5.65 and a beta of 0.98. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $954.29 and its two-hundred day simple moving average is $971.03.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate 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 30.09%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.15 EPS. Analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid 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 payout ratio is presently 28.56%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Daiwa Capital Markets dropped their target price on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a report on Tuesday. Morgan Stanley dropped their target price on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a report on Friday, September 26th. Truist Financial dropped their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a report on Friday, September 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday, September 24th. Finally, Oppenheimer reiterated an “outperform” rating and set a $1,130.00 target price on shares of Costco Wholesale in a report on Friday, September 26th. Eighteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,067.19.

Insiders Place Their Bets

In other news, EVP Teresa A. Jones sold 600 shares of the company’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 sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock worth $7,588,685 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

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.