Tranquility Partners LLC Sells 34 Shares of Costco Wholesale Corporation $COST

Tranquility Partners LLC lowered its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,101 shares of the retailer’s stock after selling 34 shares during the quarter. Costco Wholesale accounts for 2.5% of Tranquility Partners LLC’s investment portfolio, making the stock its 5th largest position. Tranquility Partners LLC’s holdings in Costco Wholesale were worth $7,029,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Corps Capital Advisors LLC boosted its stake in Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after buying an additional 10 shares during the last quarter. Covestor Ltd boosted its stake in Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after buying an additional 10 shares during the last quarter. Western Pacific Wealth Management LP boosted its stake in Costco Wholesale by 0.5% during the first quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer’s stock worth $1,925,000 after buying an additional 11 shares during the last quarter. MOKAN Wealth Management Inc. boosted its stake in Costco Wholesale by 0.4% during the first quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock worth $2,499,000 after buying an additional 11 shares during the last quarter. Finally, Aspect Partners LLC boosted its stake in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COST shares. Oppenheimer restated an “outperform” rating and issued a $1,130.00 target price on shares of Costco Wholesale in a research report on Friday, September 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Costco Wholesale in a research report on Wednesday. JPMorgan Chase & Co. reduced their target price on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Citigroup reduced their target price on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. Finally, The Goldman Sachs Group lifted their target price on Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,066.23.

Insider Buying and Selling

In related news, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the transaction, the executive vice president directly owned 9,740 shares of the company’s stock, valued at $8,912,100. The trade was a 25.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares of the company’s stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,981 shares of company stock valued at $7,588,685 in the last three months. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

COST stock opened at $930.01 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $412.16 billion, a PE ratio of 51.07, a P/E/G ratio of 5.64 and a beta of 0.98. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23. The business’s fifty day moving average price is $952.05 and its 200 day moving average price is $971.77.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.15 EPS. On average, sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced 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. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s payout ratio is presently 28.56%.

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.