Enclave Advisors LLC Sells 452 Shares of Costco Wholesale Corporation $COST

Key Points

• Enclave Advisors LLC reduced its stake in Costco Wholesale Corporation by 28.6%, now owning 1,130 shares valued at approximately $1.12 million.
• Analysts have cut price targets for Costco, with Telsey Advisory Group maintaining an "outperform" rating and setting a target of $1,100, while estimations from others vary below $1,000.
• Costco announced a quarterly dividend of $1.30 per share, yielding 0.6% with an annual payout ratio of 28.56%.

Enclave Advisors LLC cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 28.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,130 shares of the retailer's stock after selling 452 shares during the quarter. Enclave Advisors LLC's holdings in Costco Wholesale were worth $1,119,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alpine Bank Wealth Management lifted its holdings in shares of Costco Wholesale by 4.5% during the second quarter. Alpine Bank Wealth Management now owns 952 shares of the retailer's stock valued at $942,000 after acquiring an additional 41 shares during the period. Albion Financial Group UT lifted its holdings in shares of Costco Wholesale by 0.5% during the second quarter. Albion Financial Group UT now owns 22,208 shares of the retailer's stock valued at $21,985,000 after acquiring an additional 117 shares during the period. Astoria Strategic Wealth Inc. bought a new position in shares of Costco Wholesale during the second quarter valued at $206,000. New Perspectives Inc bought a new position in shares of Costco Wholesale during the second quarter valued at $206,000. Finally, Investment Research & Advisory Group Inc. lifted its holdings in shares of Costco Wholesale by 1.5% during the second quarter. Investment Research & Advisory Group Inc. now owns 4,658 shares of the retailer's stock valued at $4,612,000 after acquiring an additional 68 shares during the period. 68.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on COST shares. Truist Financial cut their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating for the company in a report on Friday. Evercore ISI cut their price target on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a report on Friday. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Wednesday, September 24th. Roth Capital set a $907.00 price target on Costco Wholesale and gave the company a "neutral" rating in a report on Friday. Finally, Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,069.58.

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was 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 of the company's stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $915.95 on Monday. The stock has a market capitalization of $406.21 billion, a P/E ratio of 50.30, a P/E/G ratio of 5.15 and a beta of 0.97. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $955.70 and a two-hundred day moving average price of $971.63.

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 firm had revenue of $86.16 billion during the quarter, compared to analysts' expectations of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $5.15 EPS. Equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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