Costco Wholesale Co. (NASDAQ:COST) Shares Sold by McKinley Carter Wealth Services Inc.

 In Uncategorized

McKinley Carter Wealth Services Inc. reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,697 shares of the retailer’s stock after selling 214 shares during the quarter. Costco Wholesale comprises approximately 0.8% of McKinley Carter Wealth Services Inc.’s portfolio, making the stock its 26th largest holding. McKinley Carter Wealth Services Inc.’s holdings in Costco Wholesale were worth $8,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Asset Management Resources LLC raised its stake in Costco Wholesale by 5.7% during the 2nd quarter. Asset Management Resources LLC now owns 539 shares of the retailer’s stock worth $259,000 after acquiring an additional 29 shares in the last quarter. HB Wealth Management LLC increased its stake in Costco Wholesale by 23.9% in the second quarter. HB Wealth Management LLC now owns 7,792 shares of the retailer’s stock valued at $3,735,000 after purchasing an additional 1,501 shares during the period. Regent Investment Management LLC increased its stake in Costco Wholesale by 8.6% in the second quarter. Regent Investment Management LLC now owns 1,625 shares of the retailer’s stock valued at $779,000 after purchasing an additional 128 shares during the period. Washburn Capital Management Inc. increased its stake in Costco Wholesale by 1.3% in the second quarter. Washburn Capital Management Inc. now owns 2,416 shares of the retailer’s stock valued at $1,158,000 after purchasing an additional 32 shares during the period. Finally, StrongBox Wealth LLC increased its stake in Costco Wholesale by 15.9% in the second quarter. StrongBox Wealth LLC now owns 6,805 shares of the retailer’s stock valued at $3,261,000 after purchasing an additional 936 shares during the period. 66.83% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 4.3 %

COST stock opened at $466.40 on Friday. The company’s 50 day simple moving average is $528.60 and its 200-day simple moving average is $519.39. The firm has a market capitalization of $206.60 billion, a PE ratio of 35.49, a P/E/G ratio of 3.52 and a beta of 0.70. Costco Wholesale Co. has a 12 month low of $406.51 and a 12 month high of $612.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48.

Costco Wholesale (NASDAQ:COSTGet Rating) last released its quarterly earnings results on Thursday, September 22nd. The retailer reported $4.20 EPS for the quarter, beating the consensus estimate of $4.17 by $0.03. The business had revenue of $72.09 billion for the quarter, compared to analyst estimates of $72 billion. Costco Wholesale had a net margin of 2.58% and a return on equity of 29.74%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.90 earnings per share. Equities analysts expect that Costco Wholesale Co. will post 14.37 earnings per share for the current fiscal year.

Costco Wholesale Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.08%. Costco Wholesale’s dividend payout ratio is presently 27.40%.

Analyst Ratings Changes

A number of research analysts have commented on COST shares. Evercore ISI dropped their price objective on shares of Costco Wholesale from $600.00 to $550.00 in a research note on Friday. The Goldman Sachs Group lifted their price objective on shares of Costco Wholesale from $516.00 to $573.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Robert W. Baird restated an “outperform” rating and issued a $575.00 price objective on shares of Costco Wholesale in a research note on Friday, September 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Costco Wholesale from $579.00 to $581.00 and gave the company a “buy” rating in a report on Wednesday. Finally, MKM Partners lowered their target price on shares of Costco Wholesale from $517.00 to $512.00 in a report on Friday. Three analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $571.92.

Insider Activity

In related news, CFO Richard A. Galanti sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total transaction of $505,600.00. Following the transaction, the chief financial officer now owns 25,750 shares of the company’s stock, valued at $13,019,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Richard A. Galanti sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total transaction of $505,600.00. Following the transaction, the chief financial officer now owns 25,750 shares of the company’s stock, valued at $13,019,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth D. Denman sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $521.68, for a total transaction of $156,504.00. Following the transaction, the director now directly owns 5,197 shares in the company, valued at approximately $2,711,170.96. The disclosure for this sale can be found here. Insiders have sold 2,800 shares of company stock worth $1,449,904 over the last ninety days. 0.22% of the stock is currently owned by insiders.

Costco Wholesale Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

Featured Articles

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

DefenseWorld source|articles

Favorite 0

Start typing and press Enter to search