Corient Private Wealth LLC Cuts Position in Costco Wholesale Corporation $COST

Corient Private Wealth LLC trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 31.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 847,380 shares of the retailer’s stock after selling 379,915 shares during the quarter. Costco Wholesale accounts for about 1.2% of Corient Private Wealth LLC’s holdings, making the stock its 17th largest position. Corient Private Wealth LLC’s holdings in Costco Wholesale were worth $838,855,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock worth $18,165,000 after purchasing an additional 2,172 shares during the period. Revolve Wealth Partners LLC grew its holdings in Costco Wholesale by 13.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock valued at $1,029,000 after purchasing an additional 130 shares during the period. Algert Global LLC increased its position in Costco Wholesale by 12.1% in the first quarter. Algert Global LLC now owns 8,919 shares of the retailer’s stock worth $8,435,000 after buying an additional 960 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Costco Wholesale by 37.8% in the first quarter. Brooklyn Investment Group now owns 4,500 shares of the retailer’s stock valued at $4,255,000 after buying an additional 1,235 shares during the period. Finally, Granite Harbor Advisors Inc. raised its stake in shares of Costco Wholesale by 43.5% in the first quarter. Granite Harbor Advisors Inc. now owns 515 shares of the retailer’s stock valued at $487,000 after buying an additional 156 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the transaction, the executive vice president directly owned 9,740 shares in the company, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William Richard Wilcox sold 2,400 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $930.13, for a total value of $2,232,312.00. Following the completion of the sale, the executive vice president directly owned 2,000 shares in the company, valued at approximately $1,860,260. The trade was a 54.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,720 shares of company stock worth $9,010,257 over the last three months. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

COST has been the subject of several research reports. Truist Financial cut their price target on Costco Wholesale from $1,033.00 to $926.00 and set a “hold” rating for the company in a research note on Friday. Morgan Stanley cut their target price on shares of 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. BMO Capital Markets reiterated an “outperform” rating on shares of Costco Wholesale in a research note on Friday. BTIG Research initiated coverage on shares of Costco Wholesale in a research note on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 price target on the stock. Finally, Gordon Haskett cut their price objective on shares of Costco Wholesale from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a report on Monday, December 1st. Eighteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $992.70.

Costco Wholesale Trading Down 2.7%

Shares of Costco Wholesale stock opened at $860.56 on Tuesday. The company’s 50-day moving average price is $915.22 and its 200-day moving average price is $949.15. The company has a market cap of $382.05 billion, a price-to-earnings ratio of 46.09, a PEG ratio of 5.99 and a beta of 1.00. Costco Wholesale Corporation has a 12-month low of $851.40 and a 12-month high of $1,078.23. The company has a current ratio of 1.04, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, December 11th. The retailer reported $4.34 earnings per share for the quarter, topping analysts’ consensus estimates of $4.27 by $0.07. Costco Wholesale had a net margin of 2.96% and a return on equity of 29.35%. The business had revenue of $67.31 billion for the quarter, compared to analyst estimates of $67.03 billion. During the same quarter in the prior year, the firm posted $4.04 EPS. Costco Wholesale’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is 27.85%.

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.