Floyd Financial Group LLC Cuts Stake in Costco Wholesale Corporation $COST

Floyd Financial Group LLC trimmed its stake in Costco Wholesale Corporation (NASDAQ:COST) by 23.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 494 shares of the retailer’s stock after selling 153 shares during the quarter. Floyd Financial Group LLC’s holdings in Costco Wholesale were worth $488,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Bulwark Capital Corp purchased a new position in shares of Costco Wholesale in the 2nd quarter valued at $25,000. Anderson Financial Strategies LLC increased its holdings in Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after purchasing an additional 36 shares in the last quarter. eCIO Inc. purchased a new position in Costco Wholesale in the first quarter valued at about $48,000. Aspect Partners LLC raised its position in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after purchasing an additional 11 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale during the fourth quarter worth about $59,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Up 0.2%

COST stock opened at $945.27 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $956.61 and a 200-day simple moving average of $970.80. The company has a market capitalization of $419.21 billion, a P/E ratio of 53.62, a PEG ratio of 5.30 and a beta of 0.97. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23.

Costco Wholesale Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on COST shares. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale 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 research report on Friday, June 6th. Evercore ISI dropped their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 17th. Loop Capital decreased their target price on shares of 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. Finally, Morgan Stanley raised their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Friday, May 30th. Seventeen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $1,061.30.

Insider Activity

In related news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction dated 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 transaction, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares of the company’s stock, valued at approximately $5,629,419.04. This represents a 40.92% 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.

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.