Stratos Wealth Advisors LLC Cuts Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Stratos Wealth Advisors LLC trimmed its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,409 shares of the retailer's stock after selling 338 shares during the period. Stratos Wealth Advisors LLC's holdings in Costco Wholesale were worth $13,628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in Costco Wholesale during the 4th quarter valued at about $25,000. Clear Investment Research LLC boosted its stake in shares of Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after buying an additional 10 shares during the last quarter. Aspect Partners LLC boosted its stake in shares of Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares during the last quarter. Capital A Wealth Management LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth approximately $58,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter worth approximately $59,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Price Performance

NASDAQ:COST traded up $0.16 during midday trading on Friday, hitting $970.33. The company had a trading volume of 1,939,399 shares, compared to its average volume of 2,068,105. Costco Wholesale Corporation has a 52-week low of $793.00 and a 52-week high of $1,078.24. The stock's fifty day moving average price is $1,003.77 and its 200-day moving average price is $981.90. The company has a market capitalization of $430.32 billion, a PE ratio of 55.04, a P/E/G ratio of 6.03 and a beta of 0.97. 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 (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same period in the previous year, the business earned $3.78 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a $1.30 dividend. The ex-dividend date was Friday, May 2nd. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a yield of 0.54%. Costco Wholesale's payout ratio is 29.50%.

Insider Activity at Costco Wholesale

In related news, Director Susan L. Decker sold 547 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the company's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the completion of the transaction, the executive vice president owned 43,994 shares of the company's stock, valued at $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock valued at $9,496,950 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on COST shares. Mizuho started coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price on the stock. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research note on Thursday, May 29th. Evercore ISI dropped their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Thursday. Finally, Truist Financial upped their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus price target of $1,034.79.

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.