Golden State Wealth Management LLC Reduces Position in Costco Wholesale Corporation $COST

Golden State Wealth Management LLC decreased its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 5.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,882 shares of the retailer’s stock after selling 217 shares during the quarter. Golden State Wealth Management LLC’s holdings in Costco Wholesale were worth $3,843,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HORAN Wealth LLC bought a new position in Costco Wholesale in the second quarter worth $541,000. SouthState Corp raised its holdings in Costco Wholesale by 2.9% in the second quarter. SouthState Corp now owns 26,684 shares of the retailer’s stock worth $26,415,000 after purchasing an additional 747 shares in the last quarter. Sienna Gestion raised its holdings in Costco Wholesale by 10.5% in the second quarter. Sienna Gestion now owns 18,961 shares of the retailer’s stock worth $17,137,000 after purchasing an additional 1,807 shares in the last quarter. Horan Securities Inc. bought a new position in Costco Wholesale in the second quarter worth $221,000. Finally, Ethos Financial Group LLC increased its holdings in shares of Costco Wholesale by 15.6% during the second quarter. Ethos Financial Group LLC now owns 2,858 shares of the retailer’s stock valued at $2,829,000 after acquiring an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a report on Friday, September 26th. Jefferies Financial Group restated a “buy” rating on shares of Costco Wholesale in a report on Thursday, October 9th. Morgan Stanley reduced their price target on 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. Wolfe Research assumed coverage on Costco Wholesale in a report on Thursday, September 18th. They set a “peer perform” rating for the company. Finally, Roth Capital set a $907.00 price target on Costco Wholesale and gave the company a “neutral” rating in a report on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,064.85.

Costco Wholesale Price Performance

NASDAQ COST opened at $935.03 on Thursday. Costco Wholesale Corporation has a one year low of $871.71 and a one year high of $1,078.23. The stock has a 50-day moving average of $938.96 and a 200 day moving average of $969.33. The company has a market capitalization of $414.39 billion, a price-to-earnings ratio of 51.35, a PEG ratio of 5.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate of $5.81 by $0.06. The company had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.Costco Wholesale’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $5.15 EPS. On average, sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.56%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 2,700 shares of the firm’s stock in a transaction dated 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 directly owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. This trade represents a 28.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tiffany Marie Barbre sold 1,239 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the transaction, the insider directly owned 5,155 shares in the company, valued at $4,817,966.10. The trade was a 19.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 7,920 shares of company stock valued at $7,373,175. Company 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.