Costco Wholesale Corporation $COST Stock Holdings Lessened by Legacy Trust

Key Points

• Legacy Trust has reduced its stake in Costco Wholesale by 14.7%, now owning 7,949 shares valued at approximately $7.87 million, making it the 17th largest position in their portfolio.
• Costco reported earnings of $5.87 per share for the last quarter, exceeding estimates of $5.81, with revenue reaching $86.16 billion, an 8.1% increase compared to the previous year.
• Several analysts have adjusted their price targets for Costco, with Citigroup lowering its target from $1,065 to $990, while Goldman Sachs raised it from $1,333 to $1,418, reflecting mixed sentiments among analysts.

Legacy Trust cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 14.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,949 shares of the retailer's stock after selling 1,366 shares during the period. Costco Wholesale comprises approximately 1.9% of Legacy Trust's holdings, making the stock its 17th largest position. Legacy Trust's holdings in Costco Wholesale were worth $7,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. Kercheville Advisors LLC boosted its stake in shares of Costco Wholesale by 0.6% during the 2nd quarter. Kercheville Advisors LLC now owns 12,565 shares of the retailer's stock valued at $12,438,000 after buying an additional 81 shares during the period. Global Strategic Investment Solutions LLC raised its holdings in shares of Costco Wholesale by 1.1% during the second quarter. Global Strategic Investment Solutions LLC now owns 1,587 shares of the retailer's stock worth $1,571,000 after acquiring an additional 18 shares in the last quarter. Three Cord True Wealth Management LLC acquired a new stake in Costco Wholesale during the second quarter valued at $220,000. Beacon Financial Advisory LLC grew its stake in Costco Wholesale by 21.3% in the second quarter. Beacon Financial Advisory LLC now owns 975 shares of the retailer's stock valued at $965,000 after purchasing an additional 171 shares in the last quarter. Finally, Simplicity Wealth LLC increased its position in Costco Wholesale by 383.4% in the 2nd quarter. Simplicity Wealth LLC now owns 17,485 shares of the retailer's stock worth $17,309,000 after purchasing an additional 13,868 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Down 0.2%

Costco Wholesale stock opened at $915.38 on Monday. The business has a 50 day moving average price of $953.54 and a two-hundred day moving average price of $972.15. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 12 month low of $867.34 and a 12 month high of $1,078.23. The stock has a market cap of $405.95 billion, a price-to-earnings ratio of 50.27, a price-to-earnings-growth ratio of 5.55 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, topping the consensus estimate of $5.81 by $0.06. The company 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%.Costco Wholesale's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $5.15 EPS. As a group, equities analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $1.30 dividend. The ex-dividend date 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 28.56%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on COST shares. Citigroup reduced their price target on Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating for the company in a report on Monday, September 29th. Roth Capital set a $907.00 price objective on shares of Costco Wholesale and gave the company a "neutral" rating in a research report on Friday, September 26th. The Goldman Sachs Group boosted their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. JPMorgan Chase & Co. cut their price target on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a report on Friday, September 26th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $1,130.00 price objective on shares of Costco Wholesale in a report on Friday, September 26th. Nineteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,067.19.

Insider Transactions at Costco Wholesale

In other news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% 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.

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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