Modera Wealth Management LLC Has $5.14 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Modera Wealth Management LLC decreased its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,048 shares of the retailer’s stock after selling 182 shares during the quarter. Modera Wealth Management LLC’s holdings in Costco Wholesale were worth $5,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of COST. Frank Rimerman Advisors LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the 1st quarter valued at $32,000. Vima LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $34,000. DSM Capital Partners LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. lifted its stake in Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup increased their price objective on Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research note on Friday, May 31st. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Thursday. Argus increased their price objective on Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Barclays increased their price objective on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Finally, TD Cowen increased their price objective on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $824.50.

Insider Transactions at Costco Wholesale

In other news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction 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 completion of the transaction, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the transaction, the executive vice president now owns 23,800 shares of the company’s stock, valued at approximately $20,560,344. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Performance

Shares of COST stock traded up $5.75 during trading on Friday, reaching $892.38. The company had a trading volume of 1,931,611 shares, compared to its average volume of 1,963,146. The firm’s 50 day simple moving average is $853.32 and its two-hundred day simple moving average is $792.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a one year low of $539.31 and a one year high of $918.93. The company has a market capitalization of $395.62 billion, a PE ratio of 55.29, a PEG ratio of 5.84 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data 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. The business had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $3.43 EPS. Sell-side analysts forecast that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s payout ratio is presently 28.75%.

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.