Alpha Financial Partners LLC Trims Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Alpha Financial Partners LLC lowered its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 938 shares of the retailer’s stock after selling 25 shares during the quarter. Costco Wholesale accounts for 0.7% of Alpha Financial Partners LLC’s portfolio, making the stock its 25th biggest holding. Alpha Financial Partners LLC’s holdings in Costco Wholesale were worth $797,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Frank Rimerman Advisors LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new stake in Costco Wholesale during the 1st quarter valued at about $32,000. Vima LLC purchased a new stake in Costco Wholesale in the 4th quarter valued at about $34,000. DSM Capital Partners LLC bought a new position in Costco Wholesale in the 4th quarter worth about $36,000. Finally, Financial Connections Group Inc. increased its position in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insider Activity

In related news, Director Kenneth D. Denman sold 350 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kenneth D. Denman sold 350 shares of the company’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 sale, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the transaction, the insider now directly owns 10,992 shares of the company’s stock, valued at $9,327,041.76. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock valued at $4,252,856 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $907.87 on Tuesday. The company has a 50 day moving average price of $862.11 and a 200 day moving average price of $807.61. The firm has a market capitalization of $402.49 billion, a P/E ratio of 56.25, a PEG ratio of 5.56 and a beta of 0.80. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83.

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Costco Wholesale from $910.00 to $915.00 and gave the company a “buy” rating in a report on Friday, September 6th. Loop Capital upped their target price on Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Oppenheimer raised their price target on Costco Wholesale from $925.00 to $955.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $860.00 to $890.00 in a research note on Tuesday, September 10th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $925.00 target price on shares of Costco Wholesale in a research report on Friday, September 6th. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.