Main Street Group LTD Sells 25 Shares of Costco Wholesale Corporation $COST

Main Street Group LTD reduced its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,239 shares of the retailer’s stock after selling 25 shares during the quarter. Costco Wholesale makes up approximately 0.4% of Main Street Group LTD’s holdings, making the stock its 24th biggest position. Main Street Group LTD’s holdings in Costco Wholesale were worth $1,227,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Corps Capital Advisors LLC grew its position in Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after purchasing an additional 10 shares in the last quarter. Covestor Ltd grew its holdings in shares of Costco Wholesale by 8.6% in the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after acquiring an additional 10 shares in the last quarter. Rooted Wealth Advisors Inc. grew its holdings in shares of Costco Wholesale by 2.6% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer’s stock valued at $404,000 after acquiring an additional 11 shares in the last quarter. Bank & Trust Co grew its holdings in shares of Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock valued at $61,000 after acquiring an additional 11 shares in the last quarter. Finally, Amplius Wealth Advisors LLC grew its stake in Costco Wholesale by 1.3% in the first quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock valued at $819,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on COST shares. Loop Capital decreased their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research note on Thursday, May 29th. Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Wednesday, August 27th. Morgan Stanley lifted their price objective on shares of 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, Evercore ISI decreased their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research report on Tuesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,061.30.

Costco Wholesale Stock Up 0.0%

NASDAQ COST opened at $943.60 on Wednesday. The business has a fifty day moving average price of $956.73 and a two-hundred day moving average price of $970.98. 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 fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The stock has a market capitalization of $418.46 billion, a PE ratio of 53.52, a PEG ratio of 5.30 and a beta of 0.97.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 29.50%.

Insider Transactions at Costco Wholesale

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

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.