Costco Wholesale Corporation (NASDAQ:COST) Shares Sold by Red Door Wealth Management LLC

Red Door Wealth Management LLC cut its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,599 shares of the retailer's stock after selling 258 shares during the quarter. Costco Wholesale comprises about 1.9% of Red Door Wealth Management LLC's holdings, making the stock its 11th largest position. Red Door Wealth Management LLC's holdings in Costco Wholesale were worth $12,862,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COST. Miramar Capital LLC increased its position in Costco Wholesale by 1.9% during the 4th quarter. Miramar Capital LLC now owns 525 shares of the retailer's stock worth $481,000 after purchasing an additional 10 shares during the period. Clear Investment Research LLC boosted its stake in shares of Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after buying an additional 10 shares in the last quarter. Peninsula Wealth LLC grew its holdings in Costco Wholesale by 1.2% during the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock worth $749,000 after acquiring an additional 10 shares during the period. Bosun Asset Management LLC raised its position in Costco Wholesale by 1.6% in the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock worth $583,000 after acquiring an additional 10 shares in the last quarter. Finally, Lifeworks Advisors LLC lifted its stake in shares of Costco Wholesale by 1.2% in the fourth quarter. Lifeworks Advisors LLC now owns 895 shares of the retailer's stock valued at $820,000 after purchasing an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on COST shares. Cowen restated a "buy" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. JPMorgan Chase & Co. increased their price target on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Evercore ISI cut their price target 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. Finally, Morgan Stanley lifted their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,034.79.

Costco Wholesale Trading Down 0.4%

COST stock traded down $3.98 during midday trading on Tuesday, reaching $985.96. 2,198,786 shares of the company's stock traded hands, compared to its average volume of 2,073,892. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24. The business has a 50-day moving average price of $1,004.54 and a two-hundred day moving average price of $981.06. The company has a market capitalization of $437.25 billion, a P/E ratio of 55.93, a PEG ratio of 5.82 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The business had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the previous year, the business posted $3.78 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Insider Buying and Selling

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president owned 58,543 shares of the company's stock, valued at $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the sale, the executive vice president owned 43,994 shares in the company, valued at $43,161,193.58. This represents a 8.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,547 shares of company stock valued at $9,496,950. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Company 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.