Costco Wholesale Co. (NASDAQ:COST) is Avitas Wealth Management LLC’s 6th Largest Position

Avitas Wealth Management LLC decreased its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,732 shares of the retailer’s stock after selling 173 shares during the quarter. Costco Wholesale makes up 3.0% of Avitas Wealth Management LLC’s holdings, making the stock its 6th largest position. Avitas Wealth Management LLC’s holdings in Costco Wholesale were worth $20,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oak Asset Management LLC grew its holdings in Costco Wholesale by 0.3% in the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock valued at $3,737,000 after purchasing an additional 12 shares during the last quarter. Peddock Capital Advisors LLC boosted its position in shares of Costco Wholesale by 0.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock worth $1,518,000 after buying an additional 12 shares in the last quarter. Bedel Financial Consulting Inc. grew its stake in Costco Wholesale by 1.3% in the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock valued at $729,000 after acquiring an additional 13 shares during the last quarter. Boltwood Capital Management increased its holdings in Costco Wholesale by 1.7% during the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock valued at $671,000 after acquiring an additional 13 shares in the last quarter. Finally, LifePro Asset Management raised its position in Costco Wholesale by 3.8% during the second quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock worth $304,000 after acquiring an additional 13 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Up 0.2 %

COST stock traded up $1.65 during trading on Friday, reaching $879.21. The stock had a trading volume of 1,304,286 shares, compared to its average volume of 1,967,249. The firm has a fifty day moving average price of $851.23 and a 200 day moving average price of $787.99. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $389.78 billion, a P/E ratio of 54.47, a PEG ratio of 5.84 and a beta of 0.78. Costco Wholesale Co. has a 1-year low of $530.56 and a 1-year high of $896.67.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.08. The company had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. Costco Wholesale’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.43 EPS. On average, equities analysts anticipate that Costco Wholesale Co. will post 15.98 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 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Wall Street Analyst Weigh In

A number of brokerages have commented on COST. Wells Fargo & Company increased their target price on Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Truist Financial increased their price objective on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Loop Capital boosted their target price on shares of Costco Wholesale from $940.00 to $970.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Stifel Nicolaus raised their price target on shares of Costco Wholesale from $900.00 to $950.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Oppenheimer lowered their price target on shares of Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $824.50.

Insider Buying and Selling at Costco Wholesale

In related news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders have sold 4,970 shares of company stock worth $4,249,526 over the last quarter. 0.18% of the stock is owned by corporate insiders.

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.