AE Wealth Management LLC Cuts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

AE Wealth Management LLC reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,737 shares of the retailer’s stock after selling 3,956 shares during the period. AE Wealth Management LLC’s holdings in Costco Wholesale were worth $28,931,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. 626 Financial LLC grew its stake in Costco Wholesale by 3.0% in the first quarter. 626 Financial LLC now owns 732 shares of the retailer’s stock valued at $364,000 after purchasing an additional 21 shares during the last quarter. Integral Investment Advisors Inc. grew its stake in shares of Costco Wholesale by 1.5% during the first quarter. Integral Investment Advisors Inc. now owns 1,440 shares of the retailer’s stock worth $715,000 after acquiring an additional 21 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Costco Wholesale by 0.7% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,994 shares of the retailer’s stock worth $1,488,000 after acquiring an additional 21 shares during the last quarter. TrinityPoint Wealth LLC grew its stake in shares of Costco Wholesale by 1.0% during the first quarter. TrinityPoint Wealth LLC now owns 2,116 shares of the retailer’s stock worth $1,051,000 after acquiring an additional 21 shares during the last quarter. Finally, Capital Wealth Alliance LLC grew its stake in shares of Costco Wholesale by 2.1% during the first quarter. Capital Wealth Alliance LLC now owns 1,007 shares of the retailer’s stock worth $500,000 after acquiring an additional 21 shares during the last quarter. 66.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Susan L. Decker sold 1,565 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $533.00, for a total value of $834,145.00. Following the sale, the director now directly owns 13,329 shares of the company’s stock, valued at approximately $7,104,357. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on COST shares. VNET Group reaffirmed a “reiterates” rating on shares of Costco Wholesale in a report on Thursday, June 29th. Robert W. Baird lifted their target price on Costco Wholesale from $535.00 to $550.00 in a report on Friday, July 7th. Evercore ISI lifted their target price on Costco Wholesale from $595.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, September 8th. Jefferies Financial Group lifted their target price on Costco Wholesale from $610.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, UBS Group boosted their price target on Costco Wholesale from $560.00 to $640.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $566.63.

Costco Wholesale Price Performance

Shares of COST stock opened at $556.36 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.08 and a quick ratio of 0.57. The firm’s 50-day moving average is $550.58 and its two-hundred day moving average is $518.87. Costco Wholesale Co. has a 12 month low of $447.90 and a 12 month high of $571.16. The company has a market capitalization of $246.52 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 4.17 and a beta of 0.79.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 24th. Costco Wholesale’s dividend payout ratio (DPR) is 30.22%.

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, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.