Fortitude Family Office LLC Reduces Stock Position in Costco Wholesale Corporation $COST

Key Points

• Fortitude Family Office LLC reduced its stake in Costco Wholesale Corporation by 18.1%, now owning 2,160 shares valued at approximately $2.14 million.
• The stock recently announced a quarterly dividend of $1.30 per share, with an annualized yield of 0.6% and a dividend payout ratio of 29.50%.
• Costco's shares have seen a fluctuation with a low of $867.16 and a high of $1,078.23 in the past year, and the current price is around $943.26.

Fortitude Family Office LLC cut its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 18.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,160 shares of the retailer's stock after selling 477 shares during the period. Fortitude Family Office LLC's holdings in Costco Wholesale were worth $2,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Corps Capital Advisors LLC grew its position in shares of Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after purchasing an additional 10 shares in the last quarter. Covestor Ltd grew its position in Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after acquiring an additional 10 shares during the period. Rooted Wealth Advisors Inc. grew its position in Costco Wholesale by 2.6% in the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock worth $404,000 after acquiring an additional 11 shares during the period. Bank & Trust Co grew its position in Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after acquiring an additional 11 shares during the period. Finally, Amplius Wealth Advisors LLC grew its position in Costco Wholesale by 1.3% in the first quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer's stock worth $819,000 after acquiring an additional 11 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Costco Wholesale Stock Down 0.8%

Shares of NASDAQ COST opened at $943.26 on Tuesday. 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. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The business's fifty day simple moving average is $957.21 and its 200-day simple moving average is $971.17.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders 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 yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Analysts Set New Price Targets

Several research analysts recently weighed in on COST shares. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Wednesday, August 27th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Loop Capital lowered their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Truist Financial increased their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Finally, Evercore ISI lowered their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,061.30.

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.

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