Kingsview Wealth Management LLC Sells 33,128 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Kingsview Wealth Management LLC cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 61.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,934 shares of the retailer’s stock after selling 33,128 shares during the period. Kingsview Wealth Management LLC’s holdings in Costco Wholesale were worth $19,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Clear Investment Research LLC lifted its position in Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock valued at $51,000 after acquiring an additional 10 shares during the last quarter. Peninsula Wealth LLC grew its position in shares of Costco Wholesale by 1.2% in the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer’s stock valued at $749,000 after purchasing an additional 10 shares during the last quarter. Bosun Asset Management LLC raised its stake in Costco Wholesale by 1.6% during the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer’s stock worth $583,000 after purchasing an additional 10 shares during the period. NFP Retirement Inc. increased its position in shares of Costco Wholesale by 1.1% in the fourth quarter. NFP Retirement Inc. now owns 980 shares of the retailer’s stock worth $898,000 after acquiring an additional 11 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in Costco Wholesale by 0.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer’s stock valued at $3,163,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COST has been the topic of a number of recent research reports. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research report on Thursday, May 29th. Cfra Research raised shares of Costco Wholesale from a “hold” rating to a “moderate buy” rating in a report on Friday, April 4th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Thursday, July 10th. Morgan Stanley raised their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Finally, Evercore ISI decreased their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research note on Tuesday, June 17th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,037.48.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $951.37 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The business has a 50 day simple moving average of $1,001.13 and a two-hundred day simple moving average of $982.21. The stock has a market capitalization of $421.91 billion, a P/E ratio of 53.96, a PEG ratio of 6.02 and a beta of 0.97. Costco Wholesale Corporation has a 12 month low of $793.00 and a 12 month high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same period last year, the business posted $3.78 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. Costco Wholesale’s dividend payout ratio (DPR) is currently 29.50%.

Insider Transactions at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the transaction, the executive vice president owned 8,210 shares in the company, valued at $8,326,171.50. The trade was a 19.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock worth $9,472,510 over the last three months. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Company 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.