Biltmore Wealth Management LLC Sells 55 Shares of Costco Wholesale Corporation $COST

Biltmore Wealth Management LLC trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 4.9% in the second quarter, Holdings Channel.com reports. The fund owned 1,078 shares of the retailer’s stock after selling 55 shares during the quarter. Costco Wholesale accounts for approximately 0.4% of Biltmore Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Biltmore Wealth Management LLC’s holdings in Costco Wholesale were worth $1,068,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Corps Capital Advisors LLC lifted its holdings in shares of Costco Wholesale by 0.7% during the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after acquiring an additional 10 shares during the period. Covestor Ltd lifted its holdings in shares of Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after acquiring an additional 10 shares during the period. Rooted Wealth Advisors Inc. increased its position in shares of Costco Wholesale by 2.6% during the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer’s stock worth $404,000 after purchasing an additional 11 shares in the last quarter. Bank & Trust Co increased its position in shares of Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock worth $61,000 after purchasing an additional 11 shares in the last quarter. Finally, Amplius Wealth Advisors LLC increased its position in shares of Costco Wholesale by 1.3% during the 1st quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock worth $819,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Insider Activity at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COST has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Morgan Stanley increased their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $1,056.67.

Costco Wholesale Stock Down 0.8%

Shares of NASDAQ:COST opened at $952.07 on Wednesday. The company has a 50 day moving average of $959.09 and a 200-day moving average of $973.54. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23. The stock has a market cap of $422.22 billion, a price-to-earnings ratio of 54.00, a P/E/G ratio of 5.40 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.5%. Costco Wholesale’s dividend payout ratio (DPR) is presently 29.50%.

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.