Catalyst Capital Advisors LLC Sells 340 Shares of Costco Wholesale Corporation $COST

Key Points

• Catalyst Capital Advisors LLC reduced its stake in Costco by 6.5%, selling 340 shares and holding a total of 4,863 shares valued at approximately $4.81 million.
• Costco has received a series of positive analyst ratings, with Jefferies reaffirming a "buy" rating and other firms adjusting their price targets upward, indicating strong market confidence.
• The company declared a quarterly dividend of $1.30, set to be paid on November 14th, with an annual yield of 0.6% and a payout ratio of 28.56%.

Catalyst Capital Advisors LLC lessened its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,863 shares of the retailer's stock after selling 340 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Costco Wholesale were worth $4,814,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Bulwark Capital Corp bought a new stake in Costco Wholesale during the 2nd quarter valued at about $25,000. Anderson Financial Strategies LLC raised its position in Costco Wholesale by 900.0% during 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. Financial Connections Group Inc. raised its position in Costco Wholesale by 975.0% during the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer's stock valued at $42,000 after purchasing an additional 39 shares in the last quarter. Frazier Financial Advisors LLC raised its position in Costco Wholesale by 72.0% during the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer's stock valued at $43,000 after purchasing an additional 18 shares in the last quarter. Finally, eCIO Inc. bought a new stake in shares of Costco Wholesale in the first quarter valued at about $48,000. Institutional investors own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several recent research reports. Jefferies Financial Group restated a "buy" rating on shares of Costco Wholesale in a report on Thursday, October 9th. Argus boosted their price target on Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. JPMorgan Chase & Co. reduced their price target on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating for the company in a research report on Friday, September 26th. Morgan Stanley reduced their price target on Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 24th. Nineteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,068.15.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

NASDAQ COST opened at $942.05 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The stock's fifty day moving average price is $946.03 and its 200 day moving average price is $971.51. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23. The company has a market cap of $417.50 billion, a price-to-earnings ratio of 51.73, a PEG ratio of 5.73 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating analysts' consensus estimates of $5.81 by $0.06. The business had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company's revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $5.15 earnings per share. As a group, equities research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, October 31st. Costco Wholesale's dividend payout ratio is 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.

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