Dakota Wealth Management Decreases Holdings in Costco Wholesale Co. (NASDAQ:COST)

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Dakota Wealth Management trimmed its position in Costco Wholesale Co. (NASDAQ:COST) by 61.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,925 shares of the retailer’s stock after selling 3,043 shares during the quarter. Dakota Wealth Management’s holdings in Costco Wholesale were worth $466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Horan Capital Advisors LLC. acquired a new stake in Costco Wholesale during the 1st quarter worth $26,000. Lenox Wealth Management Inc. raised its stake in Costco Wholesale by 125.9% during the 4th quarter. Lenox Wealth Management Inc. now owns 122 shares of the retailer’s stock worth $25,000 after acquiring an additional 68 shares in the last quarter. ERTS Wealth Advisors LLC acquired a new stake in Costco Wholesale during the 4th quarter worth $30,000. C J Advisory Inc acquired a new stake in Costco Wholesale during the 1st quarter worth $36,000. Finally, Arbor Wealth Management LLC acquired a new stake in Costco Wholesale during the 4th quarter worth $33,000. Institutional investors and hedge funds own 71.14% of the company’s stock.

A number of research firms have commented on COST. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $243.00 price objective on the stock in a research note on Monday, March 11th. Bank of America set a $255.00 price objective on shares of Costco Wholesale and gave the company a “buy” rating in a research note on Friday, March 8th. UBS Group lifted their price objective on shares of Costco Wholesale to $280.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Loop Capital lifted their price objective on shares of Costco Wholesale from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, Stifel Nicolaus lifted their price objective on shares of Costco Wholesale from $247.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Costco Wholesale currently has a consensus rating of “Buy” and a consensus target price of $252.13.

In related news, Director Susan L. Decker sold 2,350 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $240.00, for a total transaction of $564,000.00. Following the sale, the director now owns 46,239 shares of the company’s stock, valued at $11,097,360. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Patrick J. Callans sold 2,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $252.15, for a total transaction of $504,300.00. Following the sale, the vice president now directly owns 66,479 shares in the company, valued at approximately $16,762,679.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,140 shares of company stock worth $3,056,340. Insiders own 0.21% of the company’s stock.

Shares of NASDAQ:COST traded up $0.26 during midday trading on Tuesday, hitting $257.11. The stock had a trading volume of 1,382,333 shares, compared to its average volume of 1,985,493. The company has a market cap of $113.07 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 3.59 and a beta of 0.91. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 1 year low of $189.51 and a 1 year high of $259.61.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.06. The business had revenue of $34.74 billion for the quarter, compared to the consensus estimate of $34.72 billion. Costco Wholesale had a net margin of 2.41% and a return on equity of 25.03%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.70 earnings per share. On average, research analysts forecast that Costco Wholesale Co. will post 8.04 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.65 dividend. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, May 9th. This represents a $2.60 annualized dividend and a dividend yield of 1.01%. Costco Wholesale’s payout ratio is presently 38.07%.

Costco Wholesale announced that its board has approved a share repurchase program on Friday, April 26th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the retailer to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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

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