Costco Wholesale Corporation $COST is Palumbo Wealth Management LLC’s 10th Largest Position

Palumbo Wealth Management LLC lessened its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,924 shares of the retailer’s stock after selling 67 shares during the quarter. Costco Wholesale accounts for approximately 2.1% of Palumbo Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Palumbo Wealth Management LLC’s holdings in Costco Wholesale were worth $6,854,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after buying an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock worth $1,029,000 after buying an additional 130 shares in the last quarter. Copia Wealth Management bought a new position in Costco Wholesale during the fourth quarter valued at approximately $378,000. Old North State Trust LLC raised its stake in shares of Costco Wholesale by 9.7% during the fourth quarter. Old North State Trust LLC now owns 2,522 shares of the retailer’s stock worth $2,311,000 after acquiring an additional 223 shares in the last quarter. Finally, Anchor Pointe Wealth Management LLC purchased a new position in shares of Costco Wholesale during the fourth quarter worth approximately $220,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Evercore ISI decreased their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 17th. Wolfe Research assumed coverage on shares of Costco Wholesale in a research report on Thursday, September 18th. They set a “peer perform” rating for the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research note on Wednesday. Finally, Wall Street Zen upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Seventeen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,061.30.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the company’s 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 completion of the transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president 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 disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $945.27 on Thursday. The company’s fifty day simple moving average is $956.61 and its two-hundred day simple moving average is $970.80. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The firm has a market cap of $419.21 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 5.30 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale Announces Dividend

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

Costco Wholesale Company 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.