Alapocas Investment Partners Inc. Has $9.81 Million Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Alapocas Investment Partners Inc. reduced its stake in Costco Wholesale Corporation by 13.9%, owning 10,373 shares worth approximately $9.81 million, making it the 9th largest position in its portfolio.
• Costco announced a quarterly dividend of $1.30 per share, with a payout scheduled for August 15th, representing an annualized yield of 0.5% and a payout ratio of 29.5%.
• The company reported a quarterly EPS of $4.28, exceeding estimates of $4.24, alongside revenues of $63.21 billion, marking an 8% year-over-year increase.

Alapocas Investment Partners Inc. lessened its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 13.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,373 shares of the retailer's stock after selling 1,680 shares during the quarter. Costco Wholesale accounts for 6.0% of Alapocas Investment Partners Inc.'s investment portfolio, making the stock its 9th largest position. Alapocas Investment Partners Inc.'s holdings in Costco Wholesale were worth $9,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COST. Personal CFO Solutions LLC increased its stake in shares of Costco Wholesale by 12.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after purchasing an additional 167 shares in the last quarter. F&V Capital Management LLC purchased a new stake in Costco Wholesale in the 1st quarter valued at approximately $236,000. Graybill Wealth Management LTD. acquired a new stake in Costco Wholesale during the 1st quarter valued at $3,095,000. Curat Global LLC purchased a new position in Costco Wholesale during the first quarter worth $241,000. Finally, Gateway Wealth Partners LLC raised its holdings in shares of Costco Wholesale by 2.0% in the first quarter. Gateway Wealth Partners LLC now owns 1,380 shares of the retailer's stock worth $1,305,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on COST. Truist Financial increased their price objective 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. Morgan Stanley raised their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Loop Capital lowered their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research note on Thursday, May 29th. Finally, Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus target price of $1,040.81.

Costco Wholesale Stock Up 0.4%

NASDAQ COST traded up $3.53 during trading hours on Friday, hitting $980.98. The company had a trading volume of 2,188,224 shares, compared to its average volume of 2,172,175. Costco Wholesale Corporation has a fifty-two week low of $837.63 and a fifty-two week high of $1,078.23. The firm's 50 day moving average is $977.93 and its 200 day moving average is $984.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The company has a market capitalization of $435.05 billion, a price-to-earnings ratio of 55.64, a P/E/G ratio of 6.08 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The firm had revenue of $63.21 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.78 EPS. Sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the sale, the executive vice president owned 58,543 shares in the company, valued at $58,705,164.11. This trade represents a 4.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the sale, the executive vice president owned 8,210 shares in the company, valued at $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,472,510 over the last ninety days. Insiders own 0.18% of the company's stock.

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.