FRG Family Wealth Advisors LLC Cuts Stock Holdings in Costco Wholesale Corporation $COST

FRG Family Wealth Advisors LLC decreased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,790 shares of the retailer’s stock after selling 100 shares during the quarter. Costco Wholesale accounts for approximately 2.4% of FRG Family Wealth Advisors LLC’s portfolio, making the stock its 12th largest position. FRG Family Wealth Advisors LLC’s holdings in Costco Wholesale were worth $13,651,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bulwark Capital Corp purchased a new position in shares of Costco Wholesale during the second quarter worth about $25,000. Anderson Financial Strategies LLC boosted its stake in Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after buying an additional 36 shares in the last quarter. Financial Connections Group Inc. boosted its stake in Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after buying an additional 39 shares in the last quarter. Frazier Financial Advisors LLC boosted its stake in Costco Wholesale by 72.0% in the second quarter. Frazier Financial Advisors LLC now owns 43 shares of the retailer’s stock worth $43,000 after buying an additional 18 shares in the last quarter. Finally, eCIO Inc. purchased a new stake in Costco Wholesale in the first quarter worth approximately $48,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST stock opened at $912.42 on Thursday. 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 fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The stock has a 50 day moving average price of $941.47 and a two-hundred day moving average price of $971.27. The company has a market capitalization of $404.37 billion, a P/E ratio of 50.11, a PEG ratio of 5.61 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating 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 firm had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. During the same quarter in the previous year, the company posted $5.15 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given 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 payout ratio is presently 28.56%.

Analyst Ratings Changes

COST has been the subject of several research reports. Citigroup cut their target price on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. JPMorgan Chase & Co. cut their target price on Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. BTIG Research initiated coverage on Costco Wholesale in a research note on Tuesday, October 14th. They issued a “buy” rating and a $1,115.00 target price for the company. Erste Group Bank lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Finally, Truist Financial cut their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research note on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,068.15.

Insider Buying and Selling

In related news, insider Tiffany Marie Barbre sold 1,239 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the completion of the transaction, the insider owned 5,155 shares in the company, valued at $4,817,966.10. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $2,526,336.00. Following the transaction, the executive vice president owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. This represents a 28.27% decrease in their position. The SEC filing for this sale provides additional information. 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.

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.