Costco Wholesale Corporation $COST Shares Sold by Sitrin Capital Management LLC

Sitrin Capital Management LLC lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 8.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,006 shares of the retailer’s stock after selling 659 shares during the period. Costco Wholesale comprises about 3.5% of Sitrin Capital Management LLC’s portfolio, making the stock its 11th largest holding. Sitrin Capital Management LLC’s holdings in Costco Wholesale were worth $6,936,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Corps Capital Advisors LLC raised its holdings in shares of Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after purchasing an additional 10 shares during the period. Covestor Ltd raised its holdings in shares of Costco Wholesale by 8.6% in the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after purchasing an additional 10 shares during the period. Farrell Financial LLC raised its holdings in shares of Costco Wholesale by 2.2% in the 1st quarter. Farrell Financial LLC now owns 522 shares of the retailer’s stock valued at $493,000 after purchasing an additional 11 shares during the period. Western Pacific Wealth Management LP grew its stake in Costco Wholesale by 0.5% in the 1st quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer’s stock valued at $1,925,000 after buying an additional 11 shares during the last quarter. Finally, MOKAN Wealth Management Inc. grew its stake in Costco Wholesale by 0.4% in the 1st quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock valued at $2,499,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction 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 approximately $8,912,100. This represents a 25.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president directly owned 5,774 shares of the company’s stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,981 shares of company stock valued at $7,588,685. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $914.80 on Thursday. The company’s 50 day moving average price is $952.43 and its two-hundred day moving average price is $971.37. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23. The firm has a market cap of $405.69 billion, a PE ratio of 50.24, a PEG ratio of 5.55 and a beta of 0.98. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20.

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

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on COST shares. Evercore ISI decreased their price target on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Friday, September 26th. JPMorgan Chase & Co. decreased their price target on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Citigroup decreased their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, September 24th. Finally, Daiwa Capital Markets decreased their price target on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 30th. Nineteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,067.19.

Costco Wholesale Company 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.