1248 Management LLC Has $778,000 Stake in Costco Wholesale Corporation $COST

Key Points

• 1248 Management LLC reduced its stake in Costco Wholesale Corporation by 57.9% in the first quarter, now holding 823 shares worth $778,000.
• Costco's recent quarterly earnings revealed an EPS of $4.28, surpassing estimates and showing an 8.0% year-over-year revenue increase.
• The company declared a quarterly dividend of $1.30 per share, resulting in an annualized yield of 0.6% with a payout ratio of 29.50%.

1248 Management LLC trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 57.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 823 shares of the retailer's stock after selling 1,134 shares during the period. 1248 Management LLC's holdings in Costco Wholesale were worth $778,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the 4th quarter valued at $25,000. Aspect Partners LLC increased its holdings in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares in the last quarter. Capital A Wealth Management LLC acquired a new stake in Costco Wholesale during the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. acquired a new stake in Costco Wholesale during the 4th quarter valued at $59,000. Finally, Bank & Trust Co increased its holdings in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

NASDAQ COST opened at $943.32 on Monday. The company has a market capitalization of $418.34 billion, a price-to-earnings ratio of 53.51, a PEG ratio of 5.86 and a beta of 0.97. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The stock has a fifty day simple moving average of $966.42 and a 200 day simple moving average of $980.51. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. The business had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%.Costco Wholesale's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.78 earnings per share. Sell-side analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio is presently 29.50%.

Insiders Place Their Bets

In related news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares of the company's stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,147 shares of company stock valued at $10,067,740 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COST. Loop Capital lowered their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Evercore ISI lowered their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Truist Financial lifted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. lifted their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, Costco Wholesale has an average rating of "Moderate Buy" and a consensus target price of $1,050.00.

Costco Wholesale 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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