Costco Wholesale Corporation $COST Stake Cut by Financial Partners Group Inc

Key Points

• Financial Partners Group Inc reduced its stake in Costco Wholesale Corporation by 15.7%, holding 2,264 shares valued at approximately $2.24 million at the end of the 2nd quarter.
• Institutional investors own 68.48% of Costco's shares, with several firms increasing their stakes, including CGN Advisors LLC, which boosted its position by 32.2%.
• Costco recently announced a quarterly dividend of $1.30 per share, reflecting a 0.6% yield and a payout ratio of 29.50%.

Financial Partners Group Inc lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 15.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,264 shares of the retailer's stock after selling 421 shares during the quarter. Financial Partners Group Inc's holdings in Costco Wholesale were worth $2,242,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in COST. Kwmg LLC lifted its position in shares of Costco Wholesale by 7.5% in the second quarter. Kwmg LLC now owns 777 shares of the retailer's stock worth $769,000 after purchasing an additional 54 shares in the last quarter. Kure Advisory LLC increased its stake in Costco Wholesale by 12.0% in the 2nd quarter. Kure Advisory LLC now owns 429 shares of the retailer's stock valued at $425,000 after buying an additional 46 shares during the period. ACT Advisors LLC. purchased a new stake in Costco Wholesale in the 2nd quarter worth approximately $208,000. CGN Advisors LLC lifted its position in Costco Wholesale by 32.2% in the 2nd quarter. CGN Advisors LLC now owns 2,979 shares of the retailer's stock worth $2,949,000 after buying an additional 725 shares in the last quarter. Finally, Optima Capital LLC boosted its stake in shares of Costco Wholesale by 6.8% during the 2nd quarter. Optima Capital LLC now owns 1,181 shares of the retailer's stock valued at $1,169,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Price Performance

NASDAQ:COST opened at $943.26 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23. The company has a fifty day moving average price of $957.21 and a 200 day moving average price of $971.17. The stock has a market cap of $418.32 billion, a P/E ratio of 53.50, a PEG ratio of 5.34 and a beta of 0.97.

Costco Wholesale Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on COST shares. Loop Capital dropped their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research note on Thursday, May 29th. Wolfe Research started coverage on Costco Wholesale in a research note on Thursday, September 18th. They set a "peer perform" rating for the company. Morgan Stanley boosted their price target on 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. Finally, Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Seventeen research 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,061.30.

Insider Activity

In related news, EVP Yoram Rubanenko sold 4,000 shares of the 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 owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

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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