NorthCrest Asset Manangement LLC Cuts Stock Holdings in Costco Wholesale Corporation $COST

NorthCrest Asset Manangement LLC decreased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,233 shares of the retailer’s stock after selling 45 shares during the quarter. Costco Wholesale accounts for approximately 1.1% of NorthCrest Asset Manangement LLC’s portfolio, making the stock its 14th largest position. NorthCrest Asset Manangement LLC’s holdings in Costco Wholesale were worth $42,671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Personal CFO Solutions LLC lifted its position in Costco Wholesale by 12.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock worth $1,436,000 after buying an additional 167 shares during the last quarter. F&V Capital Management LLC bought a new stake in Costco Wholesale in the first quarter valued at approximately $236,000. Graybill Wealth Management LTD. bought a new position in shares of Costco Wholesale during the first quarter valued at approximately $3,095,000. Rossmore Private Capital raised its holdings in shares of Costco Wholesale by 0.9% during the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock valued at $6,325,000 after acquiring an additional 62 shares in the last quarter. Finally, Curat Global LLC bought a new position in shares of Costco Wholesale during the first quarter valued at approximately $241,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

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

Costco Wholesale Stock Performance

NASDAQ COST opened at $963.03 on Thursday. The stock has a market capitalization of $427.08 billion, a PE ratio of 54.62, a P/E/G ratio of 5.36 and a beta of 0.97. The business has a 50 day simple moving average of $958.71 and a two-hundred day simple moving average of $973.47. 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 Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23.

Costco Wholesale Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on COST shares. Telsey Advisory Group restated an “outperform” rating and set a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday, August 27th. Truist Financial upped their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a report on Friday, May 30th. Morgan Stanley upped their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Friday, May 30th. Loop Capital reduced their price target 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. Finally, JPMorgan Chase & Co. upped their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,056.67.

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.