Ridgecrest Wealth Partners LLC Sells 156 Shares of Costco Wholesale Corporation $COST

Ridgecrest Wealth Partners LLC lessened its position in Costco Wholesale Corporation (NASDAQ:COST) by 9.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,427 shares of the retailer’s stock after selling 156 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Costco Wholesale were worth $1,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bulwark Capital Corp purchased a new stake in Costco Wholesale during the 2nd quarter valued at $25,000. Anderson Financial Strategies LLC raised its stake in shares of Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after purchasing an additional 36 shares during the last quarter. eCIO Inc. bought a new position in shares of Costco Wholesale during the first quarter valued at $48,000. Aspect Partners LLC boosted its position in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after buying an additional 11 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Costco Wholesale in the 4th quarter worth about $58,000. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction 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 in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

COST has been the topic of several research analyst reports. Loop Capital lowered their target price on shares of 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. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Wolfe Research started coverage on shares of Costco Wholesale in a research report on Thursday, September 18th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. increased their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,061.30.

Costco Wholesale Trading Up 0.0%

Shares of NASDAQ COST opened at $943.60 on Wednesday. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23. 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’s 50 day moving average is $956.73 and its two-hundred day moving average is $970.98. The stock has a market capitalization of $418.46 billion, a P/E ratio of 53.52, a PEG ratio of 5.30 and a beta of 0.97.

Costco Wholesale Announces Dividend

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

Costco Wholesale 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.