Forza Wealth Management LLC Has $2.24 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Forza Wealth Management LLC decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,639 shares of the retailer’s stock after selling 131 shares during the quarter. Costco Wholesale makes up approximately 1.2% of Forza Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. Forza Wealth Management LLC’s holdings in Costco Wholesale were worth $2,243,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. James J. Burns & Company LLC bought a new position in Costco Wholesale in the second quarter valued at approximately $471,000. Leavell Investment Management Inc. grew its stake in shares of Costco Wholesale by 4.3% during the second quarter. Leavell Investment Management Inc. now owns 2,138 shares of the retailer’s stock worth $1,817,000 after purchasing an additional 88 shares during the period. Valued Wealth Advisors LLC grew its stake in shares of Costco Wholesale by 21.1% during the second quarter. Valued Wealth Advisors LLC now owns 201 shares of the retailer’s stock worth $171,000 after purchasing an additional 35 shares during the period. Lockerman Financial Group Inc. lifted its stake in Costco Wholesale by 25.0% in the second quarter. Lockerman Financial Group Inc. now owns 500 shares of the retailer’s stock valued at $425,000 after buying an additional 100 shares during the period. Finally, Keudell Morrison Wealth Management boosted its holdings in Costco Wholesale by 2.2% during the second quarter. Keudell Morrison Wealth Management now owns 2,236 shares of the retailer’s stock worth $1,901,000 after buying an additional 48 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. TD Cowen upped their price target on Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Loop Capital upped their target price on shares of Costco Wholesale from $940.00 to $970.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Citigroup increased their target price on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Telsey Advisory Group restated an “outperform” rating and issued a $925.00 price objective on shares of Costco Wholesale in a research report on Monday, August 5th. Finally, Evercore ISI reduced their target price on Costco Wholesale from $920.00 to $915.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $824.50.

Costco Wholesale Stock Up 1.7 %

Shares of NASDAQ COST traded up $14.64 during mid-day trading on Thursday, hitting $877.35. The company had a trading volume of 1,921,167 shares, compared to its average volume of 1,990,293. Costco Wholesale Co. has a one year low of $530.56 and a one year high of $896.67. The company has a market capitalization of $388.96 billion, a PE ratio of 54.36, a price-to-earnings-growth ratio of 5.73 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm has a 50-day simple moving average of $847.25 and a two-hundred day simple moving average of $780.08.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The firm had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. During the same period last year, the company earned $3.43 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Insider Buying and Selling at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The disclosure for this sale can be found here. Insiders sold a total of 4,970 shares of company stock worth $4,249,526 over the last quarter. 0.18% of the stock is currently owned by insiders.

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.