United Asset Strategies Inc. Sells 263 Shares of Costco Wholesale Corporation $COST

Key Points

• United Asset Strategies Inc. reduced its stake in Costco Wholesale by 11.6%, selling 263 shares to hold a total of 1,997 shares valued at approximately $1,889,000.
• Insider transactions included EVP Yoram Rubanenko selling 4,000 shares for nearly $3.9 million, resulting in a 40.92% decrease in their ownership.
• Costco is paying a quarterly dividend of $1.30 per share, representing an annualized yield of 0.5%, with a dividend payout ratio of 29.50%.

United Asset Strategies Inc. lessened its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 11.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,997 shares of the retailer's stock after selling 263 shares during the quarter. United Asset Strategies Inc.'s holdings in Costco Wholesale were worth $1,889,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bosun Asset Management LLC boosted its position in shares of Costco Wholesale by 1.6% in the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock valued at $583,000 after acquiring an additional 10 shares during the period. Corps Capital Advisors LLC increased its holdings in Costco Wholesale by 0.7% during the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after acquiring an additional 10 shares during the period. Covestor Ltd lifted its stake in Costco Wholesale by 8.6% in the 1st quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after purchasing an additional 10 shares in the last quarter. Coppell Advisory Solutions LLC lifted its stake in Costco Wholesale by 0.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock worth $3,163,000 after purchasing an additional 11 shares in the last quarter. Finally, Rooted Wealth Advisors Inc. boosted its holdings in Costco Wholesale by 2.6% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock valued at $404,000 after purchasing an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Costco Wholesale

In related news, 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 transaction, the executive vice president owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the sale, the executive vice president directly owned 58,543 shares of the company's stock, valued at $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,547 shares of company stock worth $9,472,510 over the last 90 days. Company insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

COST opened at $994.57 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $441.07 billion, a P/E ratio of 56.41, a PEG ratio of 6.10 and a beta of 0.96. The stock has a 50-day moving average price of $971.14 and a 200-day moving average price of $986.14. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23.

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

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio is 29.50%.

Analyst Ratings Changes

Several research firms have recently weighed in on COST. Loop Capital decreased their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. JPMorgan Chase & Co. boosted their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. 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 research report on Friday, May 30th. Finally, Truist Financial boosted their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and an average price target of $1,050.00.

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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