Nvest Financial LLC Has $320,000 Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Posted September 23, 2022

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Nvest Financial LLC trimmed its stake in shares of Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 668 shares of the retailer’s stock after selling 65 shares during the quarter. Nvest Financial LLC’s holdings in Costco Wholesale were worth $320,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Contravisory Investment Management Inc. acquired a new stake in Costco Wholesale during the 1st quarter worth approximately $26,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in shares of Costco Wholesale during the fourth quarter worth $30,000. Lansing Street Advisors acquired a new stake in shares of Costco Wholesale during the first quarter worth $41,000. Mystic Asset Management Inc. bought a new stake in shares of Costco Wholesale in the fourth quarter valued at about $40,000. Finally, Cordant Inc. acquired a new position in shares of Costco Wholesale in the first quarter valued at about $47,000. 66.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on COST shares. Loop Capital cut their price objective on shares of Costco Wholesale from $610.00 to $585.00 in a report on Thursday, September 1st. Truist Financial boosted their price target on Costco Wholesale from $543.00 to $571.00 in a research note on Thursday, August 4th. Credit Suisse Group lowered their price objective on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, May 27th. Oppenheimer upped their target price on Costco Wholesale from $535.00 to $600.00 in a research report on Thursday, August 4th. Finally, Telsey Advisory Group decreased their price target on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Four equities research 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.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average target price of $575.36.

Costco Wholesale Trading Down 1.2 %

Shares of NASDAQ COST opened at $487.17 on Friday. The stock has a market cap of $215.80 billion, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70. The firm has a 50 day moving average price of $529.73 and a two-hundred day moving average price of $519.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. Costco Wholesale Co. has a 52-week low of $406.51 and a 52-week high of $612.27.

Costco Wholesale Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.07%. Costco Wholesale’s payout ratio is 28.35%.

Insider Buying and Selling

In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $505.60, for a total value of $505,600.00. Following the sale, the chief financial officer now owns 25,750 shares in the company, valued at approximately $13,019,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the firm’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 completion of the transaction, the chief financial officer now owns 25,750 shares in the company, valued at approximately $13,019,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 300 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 5,197 shares in the company, valued at $2,711,170.96. The disclosure for this sale can be found here. Insiders sold a total of 2,800 shares of company stock valued at $1,449,904 in the last three months. Insiders own 0.22% of the company’s stock.

Costco Wholesale Profile

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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.