National Wealth Management Group LLC Trims Holdings in Costco Wholesale Corporation $COST

Key Points

• National Wealth Management Group LLC reduced its stake in Costco Wholesale Corporation by 36.9% during the first quarter, now holding 790 shares valued at approximately $747,000.
• Several large investors have modified their holdings, with Jacobs Levy Equity Management increasing its stake by a remarkable 315.1% in the same period.
• Costco recently announced a quarterly dividend of $1.30 per share, representing a 0.5% dividend yield and a payout ratio of 29.50%.

National Wealth Management Group LLC reduced its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 790 shares of the retailer's stock after selling 462 shares during the period. National Wealth Management Group LLC's holdings in Costco Wholesale were worth $747,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. NewEdge Advisors LLC grew its position in Costco Wholesale by 2.6% in the first quarter. NewEdge Advisors LLC now owns 86,504 shares of the retailer's stock valued at $81,814,000 after acquiring an additional 2,230 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Costco Wholesale by 2.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 371,795 shares of the retailer's stock worth $351,636,000 after purchasing an additional 9,501 shares during the last quarter. Infusive Asset Management Inc. lifted its stake in Costco Wholesale by 36.8% during the first quarter. Infusive Asset Management Inc. now owns 14,654 shares of the retailer's stock worth $13,859,000 after purchasing an additional 3,941 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Costco Wholesale by 315.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 167,805 shares of the retailer's stock valued at $158,707,000 after buying an additional 127,376 shares during the last quarter. Finally, KADENSA CAPITAL Ltd bought a new stake in Costco Wholesale in the first quarter valued at $4,633,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of the company'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 completion of the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction dated 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 sale, the executive vice president owned 5,774 shares of the company's stock, 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. In the last ninety days, insiders have sold 8,147 shares of company stock worth $8,039,440. Insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

Shares of COST stock opened at $955.90 on Friday. The stock's fifty day simple moving average is $962.66 and its 200 day simple moving average is $978.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The firm has a market cap of $423.92 billion, a price-to-earnings ratio of 54.22, a P/E/G ratio of 5.32 and a beta of 0.97. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. Costco Wholesale's payout ratio is presently 29.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COST. Evercore ISI lowered their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Truist Financial lifted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Morgan Stanley lifted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. JPMorgan Chase & Co. raised their price objective on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,050.00.

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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