AM Investment Strategies LLC Lowers Stock Position in Costco Wholesale Corporation $COST

AM Investment Strategies LLC cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,342 shares of the retailer’s stock after selling 36 shares during the period. Costco Wholesale accounts for approximately 0.8% of AM Investment Strategies LLC’s holdings, making the stock its 22nd biggest holding. AM Investment Strategies LLC’s holdings in Costco Wholesale were worth $3,308,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Personal CFO Solutions LLC boosted its position in Costco Wholesale by 12.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock worth $1,436,000 after purchasing an additional 167 shares during the period. F&V Capital Management LLC purchased a new stake in Costco Wholesale during the 1st quarter worth $236,000. Graybill Wealth Management LTD. purchased a new stake in Costco Wholesale during the 1st quarter worth $3,095,000. Rossmore Private Capital boosted its position in Costco Wholesale by 0.9% during the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock worth $6,325,000 after purchasing an additional 62 shares during the period. Finally, Curat Global LLC purchased a new stake in Costco Wholesale during the 1st quarter worth $241,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

NASDAQ COST opened at $943.60 on Wednesday. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. 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 cap of $418.46 billion, a price-to-earnings ratio of 53.52, a price-to-earnings-growth ratio of 5.30 and a beta of 0.97. The company has a 50-day moving average price of $956.73 and a two-hundred day moving average price of $970.98.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is 29.50%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on COST shares. Truist Financial upped their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Evercore ISI decreased their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research report on Tuesday, June 17th. Morgan Stanley raised their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Finally, Erste Group Bank cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,061.30.

Insider Activity

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the company’s stock in a transaction dated Monday, July 14th. The stock was 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 trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale 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.