HB Wealth Management LLC Has $23.89 Million Stock Position in Costco Wholesale Corporation $COST

Key Points

• HB Wealth Management LLC reduced its position in Costco Wholesale by 10.1% in Q2, now holding 24,128 shares valued at approximately $23.89 million.
• Costco reported earnings of $5.87 EPS for the quarter, exceeding expectations, with a revenue of $86.16 billion, marking an 8.1% year-over-year increase.
• Currently, 68.48% of Costco's stock is owned by institutional investors, and 18 analysts give it a consensus rating of "Moderate Buy" with a target price of $1,072.00.

HB Wealth Management LLC reduced its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 10.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 24,128 shares of the retailer's stock after selling 2,699 shares during the period. HB Wealth Management LLC's holdings in Costco Wholesale were worth $23,886,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Bulwark Capital Corp acquired a new stake in Costco Wholesale in the 2nd quarter valued at about $25,000. Anderson Financial Strategies LLC lifted its position in Costco Wholesale by 900.0% during 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 last quarter. eCIO Inc. acquired a new stake in Costco Wholesale during the first quarter worth approximately $48,000. Aspect Partners LLC lifted its position in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new stake in Costco Wholesale during the first quarter worth approximately $61,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on COST. JPMorgan Chase & Co. cut their price objective on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating for the company in a research report on Friday. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Wednesday, September 24th. Sanford C. Bernstein raised their price objective on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an "outperform" rating in a research report on Friday. Citigroup cut their price objective on shares of Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Eighteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,072.00.

Costco Wholesale Stock Up 0.1%

Shares of COST opened at $916.87 on Tuesday. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23. The firm's 50 day moving average is $955.08 and its 200-day moving average is $971.72. The stock has a market capitalization of $406.61 billion, a PE ratio of 50.35, a P/E/G ratio of 5.15 and a beta of 0.97. 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 announced its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate of $5.81 by $0.06. The company had revenue of $86.16 billion for the quarter, compared to analysts' expectations of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $5.15 earnings per share. Equities research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid 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 was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 28.56%.

Insider Buying and Selling

In related news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares of the company's stock, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 14th. The shares were 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 $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

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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