Centurion Wealth Management LLC Has $1.99 Million Stock Position in Costco Wholesale Corporation $COST

Centurion Wealth Management LLC lifted its stake in Costco Wholesale Corporation (NASDAQ:COST) by 14.0% in the second quarter, HoldingsChannel reports. The firm owned 2,014 shares of the retailer’s stock after purchasing an additional 248 shares during the period. Centurion Wealth Management LLC’s holdings in Costco Wholesale were worth $1,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Corps Capital Advisors LLC boosted its position in Costco Wholesale by 0.7% during the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after acquiring an additional 10 shares during the period. Covestor Ltd boosted its position in Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after acquiring an additional 10 shares during the period. Rooted Wealth Advisors Inc. boosted its position in Costco Wholesale by 2.6% during the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer’s stock worth $404,000 after acquiring an additional 11 shares during the period. Bank & Trust Co boosted its position in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock worth $61,000 after acquiring an additional 11 shares during the period. Finally, Amplius Wealth Advisors LLC boosted its position in Costco Wholesale by 1.3% during the 1st quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock worth $819,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insiders Place Their Bets

In other news, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director owned 11,531 shares of the company’s stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,147 shares of company stock valued at $5,031,130 in the last three months. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the subject of a number of research reports. Erste Group Bank lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, August 27th. Loop Capital cut their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. raised their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Truist Financial raised their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research note on Friday, May 30th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $1,056.67.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $967.90 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $960.40 and its two-hundred day moving average is $974.64. The company has a market cap of $429.24 billion, a P/E ratio of 54.90, a P/E/G ratio of 5.43 and a beta of 0.97. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s payout ratio is currently 29.50%.

Costco Wholesale 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.