Galvin Gaustad & Stein LLC Sells 391 Shares of Costco Wholesale Corporation $COST

Key Points

• Galvin Gaustad & Stein LLC reduced its stake in Costco Wholesale by 5.4%, selling 391 shares and holding a total of 6,854 shares worth approximately $6.78 million.
• Costco reported quarterly earnings of $5.87 per share, exceeding estimates, with revenues reaching $86.16 billion, marking an 8.1% increase year-over-year.
• Analysts have a collective rating of "Moderate Buy" for Costco's stock, with an average price target of $1,066.23, despite some recent downgrades.

Galvin Gaustad & Stein LLC reduced its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,854 shares of the retailer's stock after selling 391 shares during the quarter. Galvin Gaustad & Stein LLC's holdings in Costco Wholesale were worth $6,785,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COST. Bulwark Capital Corp bought a new stake in shares of Costco Wholesale in the 2nd quarter worth approximately $25,000. Anderson Financial Strategies LLC grew its position in shares of Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after buying an additional 36 shares during the last quarter. eCIO Inc. bought a new stake in shares of Costco Wholesale during the first quarter valued at approximately $48,000. Aspect Partners LLC boosted its position in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new stake in shares of Costco Wholesale during the first quarter valued at approximately $61,000. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a "buy (b-)" rating on shares of Costco Wholesale in a research report on Wednesday. The Goldman Sachs Group lifted their price target on Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Roth Capital set a $907.00 price target on Costco Wholesale and gave the company a "neutral" rating in a research report on Friday, September 26th. Jefferies Financial Group restated a "buy" rating on shares of Costco Wholesale in a research report on Thursday. Finally, Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Nineteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Costco Wholesale currently has an average rating of "Moderate Buy" and an average target price of $1,066.23.

Costco Wholesale Stock Down 1.4%

Shares of NASDAQ:COST opened at $930.01 on Friday. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23. The stock has a fifty day simple moving average of $952.05 and a two-hundred day simple moving average of $971.48. 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 stock has a market capitalization of $412.16 billion, a price-to-earnings ratio of 51.07, a PEG ratio of 5.72 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results 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. 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 quarter in the previous year, the business earned $5.15 earnings per share. The company's revenue was up 8.1% on a year-over-year basis. On average, research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.6%. Costco Wholesale's payout ratio is currently 28.56%.

Insider Transactions at Costco Wholesale

In other news, EVP Teresa A. Jones sold 600 shares of the business'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 completion of the transaction, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,981 shares of company stock worth $7,588,685 over the last quarter. 0.18% of the stock is currently owned by insiders.

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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