Lorne Steinberg Wealth Management Inc. Sells 35 Shares of Costco Wholesale Corporation $COST

Lorne Steinberg Wealth Management Inc. decreased its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 456 shares of the retailer’s stock after selling 35 shares during the period. Lorne Steinberg Wealth Management Inc.’s holdings in Costco Wholesale were worth $451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of COST. Corps Capital Advisors LLC grew its position in shares of 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 lifted its holdings in Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after purchasing an additional 10 shares in the last quarter. MOKAN Wealth Management Inc. boosted its stake in Costco Wholesale by 0.4% in the 1st quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock worth $2,499,000 after purchasing an additional 11 shares during the period. Aspect Partners LLC grew its holdings in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after buying an additional 11 shares in the last quarter. Finally, Viewpoint Capital Management LLC increased its position in shares of Costco Wholesale by 0.4% during the first quarter. Viewpoint Capital Management LLC now owns 2,689 shares of the retailer’s stock valued at $2,543,000 after buying an additional 11 shares during the period. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on COST. Daiwa Capital Markets cut their price objective on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a research report on Tuesday, September 30th. The Goldman Sachs Group increased their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Truist Financial cut their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a report on Friday, September 26th. Citigroup decreased their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Finally, Mizuho lowered their price objective on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,068.15.

Insider Transactions at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of the business’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 value of $595,230.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the sale, the executive vice president directly owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. This represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $936.33 on Monday. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The stock has a market cap of $414.96 billion, a P/E ratio of 51.42, a price-to-earnings-growth ratio of 5.68 and a beta of 0.98. The firm’s fifty day moving average price is $949.51 and its 200-day moving average price is $971.56.

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

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $1.30 per share. The ex-dividend date is Friday, October 31st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is 28.56%.

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.