Regent Investment Management LLC Has $378,000 Position in Costco Wholesale Co. (NASDAQ:COST)

Regent Investment Management LLC cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 10.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,247 shares of the retailer’s stock after selling 145 shares during the quarter. Regent Investment Management LLC’s holdings in Costco Wholesale were worth $378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Your Advocates Ltd. LLP acquired a new position in Costco Wholesale during the 1st quarter worth about $28,000. Fortis Advisors LLC lifted its holdings in Costco Wholesale by 98.1% during the 1st quarter. Fortis Advisors LLC now owns 103 shares of the retailer’s stock worth $29,000 after buying an additional 51 shares during the period. Key Financial Inc acquired a new position in Costco Wholesale during the 1st quarter worth about $32,000. Cerebellum GP LLC acquired a new position in Costco Wholesale during the 2nd quarter worth about $32,000. Finally, Red Cedar Capital LLC lifted its holdings in Costco Wholesale by 588.2% during the 2nd quarter. Red Cedar Capital LLC now owns 117 shares of the retailer’s stock worth $35,000 after buying an additional 100 shares during the period. 68.79% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on COST shares. TheStreet raised Costco Wholesale from a “c” rating to a “b-” rating in a report on Monday, June 1st. Citigroup began coverage on Costco Wholesale in a research note on Tuesday, April 14th. They issued a “neutral” rating and a $310.00 price objective on the stock. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, July 24th. Oppenheimer boosted their price objective on Costco Wholesale from $335.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Finally, Telsey Advisory Group reissued a “buy” rating and issued a $330.00 price objective on shares of Costco Wholesale in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $326.46.

In other Costco Wholesale news, Director Susan L. Decker sold 1,995 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $312.00, for a total transaction of $622,440.00. Following the completion of the transaction, the director now directly owns 30,587 shares of the company’s stock, valued at $9,543,144. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard A. Galanti sold 2,730 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $325.07, for a total value of $887,441.10. Following the transaction, the chief financial officer now directly owns 25,415 shares of the company’s stock, valued at $8,261,654.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,380 shares of company stock valued at $9,514,249. 0.22% of the stock is owned by corporate insiders.

COST stock opened at $325.53 on Friday. The firm has a market cap of $143.42 billion, a PE ratio of 38.94, a P/E/G ratio of 4.57 and a beta of 0.68. The company has a quick ratio of 0.63, a current ratio of 1.11 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $312.74 and a 200-day moving average of $306.86. Costco Wholesale Co. has a 12-month low of $262.71 and a 12-month high of $331.49.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 28th. The retailer reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($0.03). The business had revenue of $36.45 billion during the quarter, compared to the consensus estimate of $36.66 billion. Costco Wholesale had a net margin of 2.31% and a return on equity of 22.60%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.89 earnings per share. On average, research analysts expect that Costco Wholesale Co. will post 8.46 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, July 30th. Costco Wholesale’s dividend payout ratio (DPR) is 34.19%.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

Further Reading: Secondary Public Offerings

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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