Accredited Wealth Management LLC Reduces Stock Position in Costco Wholesale Corporation $COST

Accredited Wealth Management LLC decreased its holdings in Costco Wholesale Corporation (NASDAQ:COSTFree Report) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 314 shares of the retailer’s stock after selling 17 shares during the period. Accredited Wealth Management LLC’s holdings in Costco Wholesale were worth $297,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in Costco Wholesale by 106,402.1% in the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer’s stock worth $7,717,744,000 after buying an additional 8,152,528 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Costco Wholesale in the first quarter valued at $3,461,159,000. Leigh Baldwin & CO. LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $95,452,000. Northern Trust Corp lifted its holdings in shares of Costco Wholesale by 12.6% in the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer’s stock worth $4,817,573,000 after acquiring an additional 587,303 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Costco Wholesale by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock worth $40,332,515,000 after purchasing an additional 443,101 shares during the period. 68.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director owned 11,531 shares in the company, valued at approximately $11,300,380. This represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction on 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 approximately $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,547 shares of company stock valued at $9,472,510. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST opened at $994.57 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The company has a 50 day moving average price of $971.14 and a 200-day moving average price of $986.14. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The stock has a market capitalization of $441.07 billion, a PE ratio of 56.41, a PEG ratio of 6.10 and a beta of 0.96.

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

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s payout ratio is currently 29.50%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. JPMorgan Chase & Co. increased their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research note on Thursday, May 29th. Morgan Stanley upped their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Finally, Loop Capital reduced their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,050.00.

View Our Latest Stock Analysis on COST

Costco Wholesale Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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