TBH Global Asset Management LLC Sells 849 Shares of Costco Wholesale Corporation $COST

Key Points

• TBH Global Asset Management LLC reduced its holdings in Costco Wholesale Corporation by 14.7%, selling 849 shares during the second quarter, and now owns 4,909 shares valued at approximately $4.86 million.
• Several hedge funds increased their stakes in Costco, with notable increases from Nuveen LLC and Kingstone Capital Partners, indicating strong institutional interest in the stock.
• Analysts have set varying price targets for Costco, with estimates ranging from $907.00 to $1,418.00, exhibiting a broad outlook on the stock's future performance.

TBH Global Asset Management LLC cut its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 14.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,909 shares of the retailer's stock after selling 849 shares during the quarter. Costco Wholesale comprises approximately 0.5% of TBH Global Asset Management LLC's holdings, making the stock its 17th largest position. TBH Global Asset Management LLC's holdings in Costco Wholesale were worth $4,859,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Nuveen LLC acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at $3,461,159,000. Kingstone Capital Partners Texas LLC increased its position in Costco Wholesale by 418,980.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 2,359,422 shares of the retailer's stock worth $2,335,686,000 after buying an additional 2,358,859 shares during the last quarter. Vanguard Group Inc. raised its holdings in Costco Wholesale by 1.0% during the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock valued at $40,332,515,000 after buying an additional 443,101 shares in the last quarter. National Bank of Canada FI raised its holdings in Costco Wholesale by 84.0% during the first quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock valued at $768,114,000 after buying an additional 370,806 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Costco Wholesale by 5.2% in the first quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer's stock worth $3,695,796,000 after buying an additional 191,985 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on COST. JPMorgan Chase & Co. lowered 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. Sanford C. Bernstein increased their price target on Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an "outperform" rating in a report on Friday. The Goldman Sachs Group lifted their price target on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a "buy" rating in a research report on Friday. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the company a "neutral" rating in a research note on Friday. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,069.58.

Insider Buying and Selling

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction 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 owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $915.95 on Friday. The firm's 50-day moving average is $955.70 and its 200-day moving average is $971.07. The company has a market cap of $406.21 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 5.15 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 31.10%. The business had revenue of $86.16 billion during the quarter, compared to analysts' expectations of $86.01 billion. During the same quarter last year, the company earned $5.15 earnings per share. The firm's revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is presently 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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