Claudine Adamo Sells 2,700 Shares of Costco Wholesale (NASDAQ:COST) Stock

Key Points

• Claudine Adamo, Costco's Executive Vice President, sold 2,700 shares of the company's stock for a total of approximately $2.53 million, reducing her ownership by 28.27%.
• Costco reported earnings per share of $5.87 for the last quarter, beating estimates by $0.06, and its revenue was up 8.1% compared to last year.
• The company announced a quarterly dividend of $1.30, set to be paid on November 14th, with a yield of 0.6% and a payout ratio of 28.56%.

Costco Wholesale Corporation (NASDAQ:COST - Get Free Report) EVP Claudine Adamo sold 2,700 shares of the business's stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the completion of the sale, the executive vice president owned 6,851 shares of the company's stock, valued at approximately $6,410,343.68. The trade was a 28.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Costco Wholesale Trading Down 1.1%

Costco Wholesale stock traded down $9.91 during trading on Friday, reaching $932.14. The company had a trading volume of 1,636,648 shares, compared to its average volume of 2,249,337. The firm has a market capitalization of $413.10 billion, a price-to-earnings ratio of 51.19, a PEG ratio of 5.73 and a beta of 0.98. Costco Wholesale Corporation has a 12-month low of $867.34 and a 12-month high of $1,078.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The stock's 50 day moving average price is $946.03 and its two-hundred day moving average price is $971.51.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating the consensus estimate of $5.81 by $0.06. The business had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company's revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $5.15 EPS. As a group, equities analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale's payout ratio is currently 28.56%.

Institutional Trading of Costco Wholesale

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after purchasing an additional 2,172 shares during the period. Revolve Wealth Partners LLC boosted its position in Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after acquiring an additional 130 shares during the period. GAMMA Investing LLC boosted its position in Costco Wholesale by 12.6% during the 1st quarter. GAMMA Investing LLC now owns 8,628 shares of the retailer's stock worth $8,160,000 after acquiring an additional 966 shares during the period. Financial Enhancement Group LLC acquired a new position in Costco Wholesale during the 1st quarter worth $262,000. Finally, Archford Capital Strategies LLC boosted its position in Costco Wholesale by 4.4% during the 1st quarter. Archford Capital Strategies LLC now owns 5,672 shares of the retailer's stock worth $5,365,000 after acquiring an additional 241 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on COST. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Jefferies Financial Group reiterated a "buy" rating on shares of Costco Wholesale in a report on Thursday, October 9th. Oppenheimer reissued an "outperform" rating and issued a $1,130.00 price objective on shares of Costco Wholesale in a research report on Friday, September 26th. Morgan Stanley dropped their target price on Costco Wholesale from $1,225.00 to $1,130.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. Finally, Truist Financial lowered their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating for the company in a research note on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,068.15.

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.

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