SOA Wealth Advisors LLC. Sells 2,963 Shares of Costco Wholesale Corporation $COST

Key Points

• SOA Wealth Advisors LLC. has reduced its stake in Costco Wholesale Corporation by 14.4%, selling 2,963 shares to hold a total of 17,617 shares worth approximately $17.44 million.
• Insider sales were reported, with executive vice president Russell D. Miller selling 3,381 shares at an average price of $915.00, indicating a 25.77% decrease in his holdings.
• Costco reported a quarterly earnings per share of $5.87, surpassing estimates and showing an 8.1% year-over-year revenue growth to $86.16 billion.

SOA Wealth Advisors LLC. reduced its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,617 shares of the retailer's stock after selling 2,963 shares during the period. Costco Wholesale comprises approximately 1.9% of SOA Wealth Advisors LLC.'s holdings, making the stock its 9th largest holding. SOA Wealth Advisors LLC.'s holdings in Costco Wholesale were worth $17,440,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parkwoods Wealth Partners LLC raised its holdings in shares of Costco Wholesale by 24.0% during the second quarter. Parkwoods Wealth Partners LLC now owns 315 shares of the retailer's stock valued at $312,000 after buying an additional 61 shares during the last quarter. Centricity Wealth Management LLC boosted its stake in Costco Wholesale by 4.3% during the second quarter. Centricity Wealth Management LLC now owns 510 shares of the retailer's stock valued at $505,000 after buying an additional 21 shares in the last quarter. First Pacific Financial boosted its stake in Costco Wholesale by 4.0% during the second quarter. First Pacific Financial now owns 4,867 shares of the retailer's stock valued at $4,818,000 after buying an additional 189 shares in the last quarter. Trilogy Capital Inc. boosted its position in shares of Costco Wholesale by 6.9% in the 2nd quarter. Trilogy Capital Inc. now owns 1,130 shares of the retailer's stock valued at $1,119,000 after purchasing an additional 73 shares during the period. Finally, QTR Family Wealth LLC boosted its position in shares of Costco Wholesale by 46.7% in the 2nd quarter. QTR Family Wealth LLC now owns 773 shares of the retailer's stock valued at $765,000 after purchasing an additional 246 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on COST. Evercore ISI reduced their price objective on Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating for the company in a research note on Friday, September 26th. Citigroup lowered their target price on Costco Wholesale from $1,065.00 to $990.00 and set a "neutral" rating on the stock in a report on Monday. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday, September 24th. Truist Financial decreased their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. decreased their price objective on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a report on Friday, September 26th. Eighteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,067.19.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of the company's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This represents a 25.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock worth $7,588,685 in the last 90 days. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Trading Down 0.9%

Shares of Costco Wholesale stock opened at $917.34 on Thursday. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The company's fifty day simple moving average is $954.29 and its 200-day simple moving average is $971.03. The company has a market cap of $406.82 billion, a price-to-earnings ratio of 50.38, a PEG ratio of 5.65 and a beta of 0.98.

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

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid 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 0.6%. Costco Wholesale's dividend payout ratio is currently 28.56%.

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.

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