Country Club Bank Lowers Holdings in Costco Wholesale Corporation $COST

Key Points

• Country Club Bank decreased its holdings in Costco Wholesale by 5.5% during the second quarter, now owning 9,675 shares valued at approximately $9.53 million.
• In the same quarter, several institutional investors, including Trueblood Wealth Management and Seamount Financial Group, either increased or diversified their stakes in Costco.
• Costco's recent quarterly earnings report showed earnings per share of $5.87, exceeding analysts' expectations, alongside a revenue increase of 8.1% year-over-year.

Country Club Bank lowered its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,675 shares of the retailer's stock after selling 562 shares during the quarter. Country Club Bank's holdings in Costco Wholesale were worth $9,531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Trueblood Wealth Management LLC raised its position in shares of Costco Wholesale by 4.1% during the second quarter. Trueblood Wealth Management LLC now owns 1,662 shares of the retailer's stock valued at $1,646,000 after buying an additional 65 shares during the last quarter. Seamount Financial Group Inc. grew its stake in Costco Wholesale by 50.3% during the second quarter. Seamount Financial Group Inc. now owns 3,516 shares of the retailer's stock valued at $3,481,000 after acquiring an additional 1,176 shares in the last quarter. SteelPeak Wealth LLC increased its holdings in Costco Wholesale by 116.5% in the 2nd quarter. SteelPeak Wealth LLC now owns 17,395 shares of the retailer's stock valued at $17,220,000 after acquiring an additional 9,362 shares during the last quarter. Drake & Associates LLC lifted its stake in Costco Wholesale by 37.1% in the 2nd quarter. Drake & Associates LLC now owns 3,976 shares of the retailer's stock worth $3,936,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. boosted its holdings in shares of Costco Wholesale by 5.8% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 1,018 shares of the retailer's stock valued at $1,008,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Wall Street Analyst Weigh In

COST has been the subject of a number of research reports. Truist Financial decreased their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a research note on Friday, September 26th. JPMorgan Chase & Co. decreased their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. Argus lifted their price target on Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Monday, September 29th. Citigroup reduced their price objective on Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating on the stock in a research note on Monday, September 29th. Finally, Evercore ISI lowered their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a research note on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,067.19.

Insider Activity

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the business's stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares of the company's stock, valued at approximately $8,912,100. The trade was a 25.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,981 shares of company stock worth $7,588,685. Insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $910.94 on Tuesday. Costco Wholesale Corporation has a 12 month low of $867.34 and a 12 month high of $1,078.23. The stock's fifty day moving average price is $953.08 and its 200-day moving average price is $972.16. The firm has a market cap of $403.98 billion, a P/E ratio of 50.02, a P/E/G ratio of 5.55 and a beta of 0.98. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping analysts' consensus estimates of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The firm had revenue of $86.16 billion during the quarter, compared to analysts' expectations of $86.01 billion. During the same period in the prior year, the business posted $5.15 EPS. The firm's quarterly revenue was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently declared 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 presently 28.56%.

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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