Costco Wholesale Corporation $COST Shares Sold by Cross Staff Investments Inc

Cross Staff Investments Inc reduced its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,860 shares of the retailer’s stock after selling 50 shares during the quarter. Costco Wholesale comprises 1.3% of Cross Staff Investments Inc’s investment portfolio, making the stock its 21st biggest holding. Cross Staff Investments Inc’s holdings in Costco Wholesale were worth $1,841,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Corps Capital Advisors LLC raised its holdings in Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after purchasing an additional 10 shares during the last quarter. Covestor Ltd raised its holdings in Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after purchasing an additional 10 shares during the last quarter. Western Pacific Wealth Management LP raised its holdings in Costco Wholesale by 0.5% during the first quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer’s stock worth $1,925,000 after purchasing an additional 11 shares during the last quarter. MOKAN Wealth Management Inc. raised its holdings in Costco Wholesale by 0.4% during the first quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock worth $2,499,000 after purchasing an additional 11 shares during the last quarter. Finally, Aspect Partners LLC raised its holdings in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on COST shares. JPMorgan Chase & Co. dropped their price target on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Argus lifted their price objective on Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Truist Financial lowered their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research report on Friday, September 26th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Costco Wholesale in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Costco Wholesale in a research report on Wednesday. Nineteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $1,066.23.

Costco Wholesale Trading Down 1.4%

NASDAQ:COST opened at $930.01 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. Costco Wholesale Corporation has a one year low of $867.34 and a one year high of $1,078.23. The business’s 50-day simple moving average is $952.05 and its 200 day simple moving average is $971.77. The stock has a market cap of $412.16 billion, a price-to-earnings ratio of 51.07, a price-to-earnings-growth ratio of 5.64 and a beta of 0.98.

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

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is presently 28.56%.

Insider Activity

In other news, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,981 shares of company stock valued at $7,588,685. 0.18% of the stock is currently owned by 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.