Benedict Financial Advisors Inc. Lowers Stake in Costco Wholesale Co. (NASDAQ:COST)

Benedict Financial Advisors Inc. lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,963 shares of the retailer’s stock after selling 38 shares during the period. Benedict Financial Advisors Inc.’s holdings in Costco Wholesale were worth $3,368,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Frank Rimerman Advisors LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in Costco Wholesale in the first quarter worth approximately $32,000. Vima LLC purchased a new stake in Costco Wholesale during the fourth quarter worth $34,000. DSM Capital Partners LLC bought a new stake in Costco Wholesale during the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. boosted its position in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

COST opened at $892.38 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a 12-month low of $539.31 and a 12-month high of $918.93. The firm has a 50 day moving average of $854.20 and a two-hundred day moving average of $794.02. The firm has a market capitalization of $395.62 billion, a PE ratio of 55.29, a P/E/G ratio of 5.98 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.08. The firm had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.43 earnings per share. On average, analysts anticipate that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently commented on COST shares. Bank of America boosted 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. Roth Mkm reissued a “neutral” rating and set a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Robert W. Baird raised their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup increased their target price on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $824.50.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the business’s 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 completion of the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. 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 owns 5,920 shares in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock worth $4,252,856 over the last quarter. 0.18% of the stock is currently owned by insiders.

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.