Procyon Advisors LLC Sells 1,829 Shares of Costco Wholesale Corporation $COST

Procyon Advisors LLC decreased its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 17.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,829 shares of the retailer's stock after selling 1,829 shares during the period. Costco Wholesale comprises 0.8% of Procyon Advisors LLC's portfolio, making the stock its 29th biggest position. Procyon Advisors LLC's holdings in Costco Wholesale were worth $8,740,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Affinity Capital Advisors LLC lifted its stake in Costco Wholesale by 15.9% in the 2nd quarter. Affinity Capital Advisors LLC now owns 743 shares of the retailer's stock valued at $735,000 after acquiring an additional 102 shares in the last quarter. GSG Advisors LLC lifted its stake in Costco Wholesale by 2.6% in the 2nd quarter. GSG Advisors LLC now owns 474 shares of the retailer's stock valued at $470,000 after acquiring an additional 12 shares in the last quarter. Mirador Capital Partners LP lifted its stake in Costco Wholesale by 1.6% in the 2nd quarter. Mirador Capital Partners LP now owns 5,247 shares of the retailer's stock valued at $5,194,000 after acquiring an additional 83 shares in the last quarter. Baron Wealth Management LLC lifted its stake in Costco Wholesale by 62.2% in the 2nd quarter. Baron Wealth Management LLC now owns 412 shares of the retailer's stock valued at $408,000 after acquiring an additional 158 shares in the last quarter. Finally, StrongBox Wealth LLC raised its stake in shares of Costco Wholesale by 2.1% during the 2nd quarter. StrongBox Wealth LLC now owns 6,425 shares of the retailer's stock worth $6,361,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on COST. Loop Capital cut their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Truist Financial increased their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Morgan Stanley increased their price objective 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. Finally, Evercore ISI cut their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,056.67.

Costco Wholesale Stock Performance

COST opened at $952.07 on Wednesday. The firm has a market cap of $422.22 billion, a P/E ratio of 54.00, a price-to-earnings-growth ratio of 5.40 and a beta of 0.97. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The business's fifty day moving average is $959.09 and its 200-day moving average is $973.54.

Costco Wholesale Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Insider Activity

In related news, EVP Yoram Rubanenko sold 4,000 shares of the firm's 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 sale, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were 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 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 disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

About Costco Wholesale

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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