Keudell Morrison Wealth Management Sells 31 Shares of Costco Wholesale Corporation $COST

Keudell Morrison Wealth Management reduced its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.5% in the second quarter, Holdings Channel reports. The fund owned 2,105 shares of the retailer’s stock after selling 31 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Costco Wholesale were worth $2,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of COST. Global Strategic Investment Solutions LLC lifted its stake in Costco Wholesale by 1.1% in the second quarter. Global Strategic Investment Solutions LLC now owns 1,587 shares of the retailer’s stock valued at $1,571,000 after purchasing an additional 18 shares during the last quarter. Three Cord True Wealth Management LLC bought a new stake in shares of Costco Wholesale in the second quarter valued at $220,000. Beacon Financial Advisory LLC lifted its position in shares of Costco Wholesale by 21.3% during the 2nd quarter. Beacon Financial Advisory LLC now owns 975 shares of the retailer’s stock valued at $965,000 after buying an additional 171 shares during the last quarter. Simplicity Wealth LLC grew its stake in shares of Costco Wholesale by 383.4% during the 2nd quarter. Simplicity Wealth LLC now owns 17,485 shares of the retailer’s stock worth $17,309,000 after acquiring an additional 13,868 shares during the period. Finally, Brown Miller Wealth Management LLC increased its holdings in Costco Wholesale by 24.8% in the 2nd quarter. Brown Miller Wealth Management LLC now owns 1,246 shares of the retailer’s stock worth $1,233,000 after acquiring an additional 248 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on COST shares. Truist Financial dropped their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a report on Friday, September 26th. Evercore ISI cut their price target on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a report on Friday, September 26th. Sanford C. Bernstein boosted their price objective on Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Erste Group Bank downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, Argus boosted their price objective on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,067.19.

Costco Wholesale Stock Performance

Shares of COST opened at $915.38 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The firm has a market cap of $405.95 billion, a PE ratio of 50.27, a P/E/G ratio of 5.55 and a beta of 0.98. The stock has a fifty day moving average price of $953.54 and a 200-day moving average price of $972.15. Costco Wholesale Corporation has a 12 month low of $867.34 and a 12 month high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. During the same quarter last year, the company posted $5.15 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $1.30 per share. 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 0.6%. Costco Wholesale’s payout ratio is 28.56%.

Insider Activity at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the sale, the executive vice president directly owned 9,740 shares of the company’s stock, valued at $8,912,100. This represents a 25.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock worth $7,588,685 over the last quarter. Insiders own 0.18% of the company’s stock.

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.