FFT Wealth Management LLC Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

FFT Wealth Management LLC decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 2.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 627 shares of the retailer’s stock after selling 17 shares during the period. FFT Wealth Management LLC’s holdings in Costco Wholesale were worth $533,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of COST. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its holdings in shares of Costco Wholesale by 1,016.9% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 56,516 shares of the retailer’s stock valued at $37,305,000 after purchasing an additional 51,456 shares during the period. Gilbert & Cook Inc. boosted its holdings in shares of Costco Wholesale by 57.3% in the fourth quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock valued at $413,000 after purchasing an additional 228 shares during the period. Aveo Capital Partners LLC lifted its holdings in Costco Wholesale by 14.5% during the fourth quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after buying an additional 135 shares during the period. AJOVista LLC purchased a new stake in Costco Wholesale during the fourth quarter worth $72,000. Finally, Avidian Wealth Solutions LLC lifted its holdings in Costco Wholesale by 4.3% during the fourth quarter. Avidian Wealth Solutions LLC now owns 1,227 shares of the retailer’s stock worth $810,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the subject of a number of analyst reports. Barclays upped their target price on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upped their target price on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Bank of America upped their target price on Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. TD Cowen upped their target price on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Stifel Nicolaus upped their target price on Costco Wholesale from $900.00 to $950.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $824.50.

Costco Wholesale Trading Up 0.6 %

Shares of Costco Wholesale stock opened at $892.38 on Monday. The firm has a market capitalization of $395.62 billion, a PE ratio of 55.29, a P/E/G ratio of 5.98 and a beta of 0.78. Costco Wholesale Co. has a twelve month low of $539.31 and a twelve month high of $918.93. The firm’s 50-day moving average price is $854.20 and its 200 day moving average price is $795.09. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. The company had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. Costco Wholesale’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.43 EPS. On average, sell-side analysts predict that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. Costco Wholesale’s payout ratio is 28.75%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,974 shares of company stock worth $4,252,856. Insiders own 0.18% of the company’s stock.

About Costco Wholesale

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.