Costco Wholesale Corporation $COST Shares Sold by Coerente Capital Management

Coerente Capital Management lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 26.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 350 shares of the retailer’s stock after selling 125 shares during the quarter. Coerente Capital Management’s holdings in Costco Wholesale were worth $346,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Corps Capital Advisors LLC lifted its holdings in Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after acquiring an additional 10 shares during the period. Covestor Ltd lifted its holdings in Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after acquiring an additional 10 shares during the period. Farrell Financial LLC lifted its holdings in Costco Wholesale by 2.2% in the first quarter. Farrell Financial LLC now owns 522 shares of the retailer’s stock valued at $493,000 after acquiring an additional 11 shares during the period. Western Pacific Wealth Management LP lifted its holdings in Costco Wholesale by 0.5% in the first quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer’s stock valued at $1,925,000 after acquiring an additional 11 shares during the period. Finally, MOKAN Wealth Management Inc. lifted its holdings in Costco Wholesale by 0.4% in the first quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock valued at $2,499,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Trading Up 3.1%

Costco Wholesale stock opened at $942.89 on Friday. The stock has a market cap of $418.15 billion, a PE ratio of 51.78, a P/E/G ratio of 5.55 and a beta of 0.98. The stock has a 50-day moving average price of $952.50 and a 200 day moving average price of $971.48. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. The firm had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.15 EPS. Equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.56%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wolfe Research assumed coverage on Costco Wholesale in a report on Thursday, September 18th. They issued a “peer perform” rating for the company. The Goldman Sachs Group raised their price target on Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Citigroup dropped their price target on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Morgan Stanley dropped their price target on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,130.00 price target on shares of Costco Wholesale in a research report on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,066.23.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the sale, the executive vice president owned 9,740 shares of the company’s stock, valued at $8,912,100. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,981 shares of company stock worth $7,588,685. 0.18% of the stock is owned by corporate insiders.

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.