Rappaport Reiches Capital Management LLC Sells 978 Shares of Costco Wholesale Co. (NASDAQ:COST)

Rappaport Reiches Capital Management LLC trimmed its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 53.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 855 shares of the retailer’s stock after selling 978 shares during the quarter. Rappaport Reiches Capital Management LLC’s holdings in Costco Wholesale were worth $727,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new position in Costco Wholesale in the 4th quarter worth $3,628,694,000. Global Assets Advisory LLC purchased a new stake in Costco Wholesale in the 1st quarter worth about $510,353,000. Assenagon Asset Management S.A. raised its position in Costco Wholesale by 287.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after purchasing an additional 620,341 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Costco Wholesale by 3,647.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock worth $374,688,000 after acquiring an additional 552,492 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Costco Wholesale by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock worth $26,640,940,000 after acquiring an additional 485,051 shares during the period. 68.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on COST shares. Truist Financial increased their price objective on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. BMO Capital Markets increased their price objective on shares of Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Argus increased their price objective on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Oppenheimer dropped their price objective on shares of Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, TD Cowen raised their target price on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $824.50.

Costco Wholesale Price Performance

Shares of NASDAQ:COST traded down $6.76 during trading on Friday, reaching $870.59. The stock had a trading volume of 1,516,332 shares, compared to its average volume of 1,987,382. Costco Wholesale Co. has a 1-year low of $530.56 and a 1-year high of $896.67. The stock has a market cap of $385.96 billion, a PE ratio of 53.94, a PEG ratio of 5.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The business has a fifty day moving average price of $848.44 and a 200-day moving average price of $781.98.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $58.16 billion. During the same quarter last year, the business posted $3.43 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts forecast that Costco Wholesale Co. will post 15.98 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale’s payout ratio is presently 28.75%.

Insider Activity

In other news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the completion of the transaction, the insider now directly owns 10,992 shares of the company’s stock, valued at approximately $9,327,041.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,970 shares of company stock valued at $4,249,526. 0.18% of the stock is currently owned by corporate insiders.

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.