Costco Wholesale Corporation $COST Shares Sold by Global Assets Advisory LLC

Key Points

• Global Assets Advisory LLC reduced its stake in Costco by 38.8%, owning 1,933 shares valued at approximately $1.9 million after selling 1,227 shares in the 2nd quarter.
• In insider transactions, EVP Yoram Rubanenko sold 4,000 shares for about $3.9 million, representing a 40.92% decrease in their ownership of the stock.
• Costco reported $5.87 earnings per share (EPS) for the last quarter, surpassing expectations, and its revenue increased by 8.1% compared to the previous year.

Global Assets Advisory LLC cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 38.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,933 shares of the retailer's stock after selling 1,227 shares during the period. Global Assets Advisory LLC's holdings in Costco Wholesale were worth $1,905,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Bulwark Capital Corp purchased a new stake in Costco Wholesale during the 2nd quarter worth $25,000. Anderson Financial Strategies LLC grew its stake in shares of Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after acquiring an additional 36 shares in the last quarter. eCIO Inc. purchased a new stake in shares of Costco Wholesale during the first quarter worth about $48,000. Aspect Partners LLC lifted its stake in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new position in Costco Wholesale in the first quarter valued at about $61,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Transactions at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Russell D. Miller sold 3,381 shares of the business'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 sale, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. The trade was a 25.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,981 shares of company stock valued at $7,588,685. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

COST has been the topic of several analyst reports. Truist Financial dropped their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a report on Friday, September 26th. Roth Capital set a $907.00 price target on shares of Costco Wholesale and gave the stock a "neutral" rating in a research note on Friday, September 26th. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Oppenheimer reissued an "outperform" rating and issued a $1,130.00 target price on shares of Costco Wholesale in a research report on Friday, September 26th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Wednesday, September 24th. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Costco Wholesale has an average rating of "Moderate Buy" and a consensus target price of $1,067.19.

Costco Wholesale Stock Down 0.2%

COST opened at $915.38 on Monday. The stock's 50 day moving average price is $953.54 and its 200 day moving average price is $972.15. 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 has a market cap of $405.95 billion, a P/E ratio of 50.27, a P/E/G ratio of 5.55 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.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly 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 return on equity of 30.09% and a net margin of 2.94%.The company had revenue of $86.16 billion during the quarter, compared to analysts' expectations of $86.01 billion. During the same quarter in the prior year, the business posted $5.15 earnings per share. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently declared 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 of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio is currently 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.

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