Atria Wealth Solutions Inc. Sells 34,388 Shares of Costco Wholesale Corporation $COST

Atria Wealth Solutions Inc. trimmed its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 76.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,453 shares of the retailer’s stock after selling 34,388 shares during the period. Atria Wealth Solutions Inc.’s holdings in Costco Wholesale were worth $10,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its stake in Costco Wholesale by 13.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 30,713 shares of the retailer’s stock valued at $30,404,000 after acquiring an additional 3,602 shares during the period. Astoria Portfolio Advisors LLC. increased its stake in Costco Wholesale by 3.9% during the second quarter. Astoria Portfolio Advisors LLC. now owns 1,184 shares of the retailer’s stock valued at $1,106,000 after acquiring an additional 44 shares during the period. Sequoia Financial Advisors LLC increased its stake in Costco Wholesale by 7.8% during the second quarter. Sequoia Financial Advisors LLC now owns 75,561 shares of the retailer’s stock valued at $74,801,000 after acquiring an additional 5,493 shares during the period. Vest Financial LLC increased its stake in Costco Wholesale by 10.8% during the second quarter. Vest Financial LLC now owns 25,653 shares of the retailer’s stock valued at $25,395,000 after acquiring an additional 2,507 shares during the period. Finally, Pegasus Asset Management Inc. bought a new position in Costco Wholesale during the second quarter valued at about $357,000. 68.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, EVP Russell D. Miller sold 3,381 shares of the firm’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 value of $3,093,615.00. Following the transaction, the executive vice president directly owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of 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. Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, September 24th. Truist Financial dropped their price target on shares of 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. Mizuho dropped their price target on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Morgan Stanley dropped their price target 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. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,066.23.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $935.56 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The firm has a market cap of $414.62 billion, a P/E ratio of 51.38, a P/E/G ratio of 5.64 and a beta of 0.98. The firm has a 50 day simple moving average of $951.65 and a 200 day simple moving average of $972.04. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23.

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

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.