Glass Jacobson Investment Advisors llc Sells 371 Shares of Costco Wholesale Corporation $COST

Key Points

• Glass Jacobson Investment Advisors LLC reduced its stake in Costco Wholesale by 43.9% in Q2 2023, selling 371 shares and now holds 475 shares valued at approximately $470,000.
• Wall Street analysts have mixed views on Costco, with price targets ranging from $990.00 to $1,200.00, while the stock holds a consensus rating of "Moderate Buy".
• Costco is set to pay a quarterly dividend of $1.30 on November 14th, maintaining an annualized dividend of $5.20 and a yield of 0.6%.

Glass Jacobson Investment Advisors llc cut its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 43.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 475 shares of the retailer's stock after selling 371 shares during the quarter. Glass Jacobson Investment Advisors llc's holdings in Costco Wholesale were worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bulwark Capital Corp bought a new stake in shares of Costco Wholesale during the 2nd quarter valued at about $25,000. Anderson Financial Strategies LLC raised its position in Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after acquiring an additional 36 shares during the period. Financial Connections Group Inc. grew its position in shares of Costco Wholesale by 975.0% during the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer's stock valued at $42,000 after acquiring an additional 39 shares during the period. Frazier Financial Advisors LLC increased its stake in shares of Costco Wholesale by 72.0% in the 2nd quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer's stock worth $43,000 after purchasing an additional 18 shares in the last quarter. Finally, eCIO Inc. purchased a new position in Costco Wholesale during the first quarter valued at $48,000. Institutional investors own 68.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COST. Morgan Stanley lowered their price objective on Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. Truist Financial decreased their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a research report on Friday, September 26th. Citigroup dropped their target price on shares of Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating for the company in a report on Monday, September 29th. Argus raised their price target on Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a "buy" rating in a report on Monday, September 29th. Finally, Wolfe Research assumed coverage on Costco Wholesale in a research report on Thursday, September 18th. They issued a "peer perform" rating on the stock. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,068.15.

Insiders Place Their Bets

In other Costco Wholesale news, insider Tiffany Marie Barbre sold 1,239 shares of the company's stock in a transaction on Friday, October 24th. The stock was sold at an average price of $934.62, for a total value of $1,157,994.18. Following the transaction, the insider owned 5,155 shares of the company's stock, valued at $4,817,966.10. This represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total value 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. This trade represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,920 shares of company stock worth $7,373,175 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Trading Down 1.1%

Shares of COST opened at $932.14 on Friday. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The stock has a market capitalization of $413.11 billion, a PE ratio of 51.19, a P/E/G ratio of 5.72 and a beta of 0.98. The company's fifty day moving average is $945.23 and its 200 day moving average is $971.67. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The firm had revenue of $86.16 billion for the quarter, compared to analysts' expectations of $86.01 billion. During the same period in the prior year, the company earned $5.15 EPS. The business's revenue was up 8.1% compared to the same quarter last year. Sell-side analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale's dividend payout ratio is 28.56%.

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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