Spectrum Wealth Counsel LLC Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

Spectrum Wealth Counsel LLC lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 566 shares of the retailer’s stock after selling 21 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in Costco Wholesale were worth $481,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the firm’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 owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,974 shares of company stock worth $4,252,856. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Up 0.1 %

Shares of COST opened at $916.00 on Friday. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. 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 $406.09 billion, a PE ratio of 56.75, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80. The business’s 50 day moving average is $861.57 and its 200 day moving average is $806.04.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Truist Financial upped their target price on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Redburn Atlantic cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating and raised their target price for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. DA Davidson restated a “neutral” rating and issued a $780.00 price target on shares of Costco Wholesale in a research note on Friday, September 6th. Finally, TD Cowen upped their price objective on Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Eight 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $844.52.

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.