Circle Wealth Management LLC Trims Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Circle Wealth Management LLC trimmed its holdings in Costco Wholesale Co. (NASDAQ:COST) by 18.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,442 shares of the retailer’s stock after selling 565 shares during the quarter. Circle Wealth Management LLC’s holdings in Costco Wholesale were worth $2,076,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale in the 1st quarter worth approximately $32,000. Financial Connections Group Inc. boosted its position 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 purchasing an additional 39 shares in the last quarter. Vima LLC purchased a new position in shares of Costco Wholesale during the 4th quarter valued at approximately $34,000. Finally, DSM Capital Partners LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $36,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on COST shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Truist Financial lifted their price target on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Bank of America increased their price target on Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Robert W. Baird boosted their price objective on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley upped their target price on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Eight 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 presently has a consensus rating of “Moderate Buy” and an average target price of $844.52.

Insider Activity

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Friday, July 12th. The shares were 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 $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now 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 quarter, insiders have sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $906.98 on Friday. The business’s 50 day moving average price is $864.85 and its 200 day moving average price is $811.25. The company has a market cap of $402.10 billion, a price-to-earnings ratio of 56.19, a PEG ratio of 5.51 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $923.83.

Costco Wholesale Announces Dividend

The business also recently declared 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. The ex-dividend date was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio is presently 28.75%.

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.