Costco Wholesale Corporation $COST Holdings Lowered by Clear Harbor Asset Management LLC

Key Points

• Clear Harbor Asset Management LLC reduced its stake in Costco Wholesale Corporation by 15.3%, resulting in ownership of 2,301 shares, valued at approximately $2.28 million.
• Recent insider transactions include EVP Yoram Rubanenko selling 4,000 shares, decreasing their position by 40.92%, and EVP Teresa A. Jones selling 600 shares, marking a 20.26% decrease in their holdings.
• Costco's stock has a consensus target price of $1,056.67, with 17 analysts rating it as a Buy and 10 as a Hold.

Clear Harbor Asset Management LLC lowered its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 15.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,301 shares of the retailer's stock after selling 415 shares during the quarter. Clear Harbor Asset Management LLC's holdings in Costco Wholesale were worth $2,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Corps Capital Advisors LLC boosted its stake in Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after purchasing an additional 10 shares during the period. Covestor Ltd raised its stake in Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer's stock valued at $119,000 after purchasing an additional 10 shares during the period. Rooted Wealth Advisors Inc. lifted its holdings in shares of Costco Wholesale by 2.6% in the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock valued at $404,000 after purchasing an additional 11 shares in the last quarter. Bank & Trust Co boosted its position in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after buying an additional 11 shares during the period. Finally, Amplius Wealth Advisors LLC grew its holdings in shares of Costco Wholesale by 1.3% during the first quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer's stock valued at $819,000 after buying an additional 11 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction on 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 $5,629,419.04. This represents a 40.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa A. Jones sold 600 shares of the business's 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 transaction, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on COST. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research note on Thursday, May 29th. Evercore ISI lowered 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 report on Tuesday, June 17th. Morgan Stanley upped their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Wolfe Research initiated coverage on shares of Costco Wholesale in a research report on Thursday. They issued a "peer perform" rating for the company. Finally, Wall Street Zen upgraded shares of 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 ten have assigned a Hold rating to the stock. According to MarketBeat, Costco Wholesale currently has an average rating of "Moderate Buy" and a consensus target price of $1,056.67.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $951.16 on Monday. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23. The company has a market cap of $421.82 billion, a P/E ratio of 53.95, a P/E/G ratio of 5.34 and a beta of 0.97. The business's 50 day moving average is $957.97 and its two-hundred day moving average is $971.32. 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 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 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio is presently 29.50%.

About Costco Wholesale

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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