Spectrum Wealth Counsel LLC Sells 21 Shares of Costco Wholesale Co. (NASDAQ:COST)

Spectrum Wealth Counsel LLC cut its position in Costco Wholesale Co. (NASDAQ:COST) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 566 shares of the retailer’s stock after selling 21 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in Costco Wholesale were worth $481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Main Street Financial Solutions LLC raised its position in Costco Wholesale by 4.7% during the 4th quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock worth $1,164,000 after purchasing an additional 79 shares during the last quarter. Zhang Financial LLC raised its position in shares of Costco Wholesale by 3.8% during the first quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock worth $740,000 after acquiring an additional 37 shares during the last quarter. Strong Tower Advisory Services lifted its stake in shares of Costco Wholesale by 7.9% in the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after acquiring an additional 137 shares during the period. Aigen Investment Management LP bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $3,871,000. Finally, Parcion Private Wealth LLC increased its position in Costco Wholesale by 30.8% during the 2nd quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock valued at $4,757,000 after purchasing an additional 1,319 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

Shares of COST opened at $916.00 on Friday. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. 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 stock has a 50 day moving average price of $861.57 and a two-hundred day moving average price of $806.04. The firm has a market capitalization of $406.09 billion, a P/E ratio of 56.75, a P/E/G ratio of 5.47 and a beta of 0.80.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s payout ratio is currently 28.75%.

Insider Buying and Selling at Costco Wholesale

In other news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction dated Monday, July 15th. The shares were 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 owns 5,920 shares in the company, valued at $5,041,057.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,974 shares of company stock worth $4,252,856. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Bank of America boosted their target price on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Barclays increased their price target on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Citigroup boosted their price objective on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research note on Friday, May 31st. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $676.00 target price (up previously from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $844.52.

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.