Beacon Investment Advisory Services Inc. Lowers Holdings in Costco Wholesale Corporation $COST

Beacon Investment Advisory Services Inc. trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,388 shares of the retailer’s stock after selling 151 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Costco Wholesale were worth $2,364,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.2%

Shares of NASDAQ COST opened at $945.27 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 $419.21 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 5.30 and a beta of 0.97. The stock’s fifty day simple moving average is $956.61 and its two-hundred day simple moving average is $970.80. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23.

Costco Wholesale Announces Dividend

The firm 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 was Friday, August 1st. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COST. 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. Truist Financial upped their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Erste Group Bank downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Loop Capital decreased their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Finally, Morgan Stanley boosted their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Friday, May 30th. Seventeen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $1,061.30.

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.