Costco Wholesale Corporation $COST Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. reduced its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,175 shares of the retailer’s stock after selling 67 shares during the quarter. Costco Wholesale makes up approximately 2.5% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 10th largest position. Adell Harriman & Carpenter Inc.’s holdings in Costco Wholesale were worth $37,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peterson Wealth Services lifted its position in Costco Wholesale by 0.5% during the 2nd quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock worth $13,479,000 after buying an additional 72 shares in the last quarter. Fishman Jay A Ltd. MI raised its holdings in shares of Costco Wholesale by 3.5% in the second quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock valued at $16,718,000 after purchasing an additional 575 shares during the last quarter. Independent Solutions Wealth Management LLC raised its holdings in shares of Costco Wholesale by 0.3% in the second quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock valued at $20,430,000 after purchasing an additional 53 shares during the last quarter. Personal CFO Solutions LLC raised its position in Costco Wholesale by 12.4% during the first quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock worth $1,436,000 after acquiring an additional 167 shares in the last quarter. Finally, Graybill Wealth Management LTD. bought a new stake in Costco Wholesale during the first quarter worth $3,095,000. Institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the completion of the sale, the executive vice president directly owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. This represents a 28.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tiffany Marie Barbre sold 1,239 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the sale, the insider directly owned 5,155 shares of the company’s stock, valued at approximately $4,817,966.10. This represents a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 7,920 shares of company stock worth $7,373,175. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on COST shares. BTIG Research began coverage on shares of Costco Wholesale in a research report on Tuesday, October 14th. They issued a “buy” rating and a $1,115.00 price objective on the stock. Evercore ISI reduced 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 report on Friday, September 26th. JPMorgan Chase & Co. lowered their price objective 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. Jefferies Financial Group reissued a “buy” rating on shares of Costco Wholesale in a report on Thursday, October 9th. 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 company. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $1,068.15.

Costco Wholesale Price Performance

COST stock opened at $912.42 on Thursday. The firm’s 50-day moving average price is $941.47 and its two-hundred day moving average price is $971.27. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23. The stock has a market capitalization of $404.37 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 5.61 and a beta of 0.98. 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 announced its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company 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 company earned $5.15 earnings per share. Costco Wholesale’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $1.30 dividend. The ex-dividend date is Friday, October 31st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.56%.

Costco Wholesale 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.