American Century Companies Inc. Sells 96,914 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• American Century Companies Inc. has reduced its stake in Costco Wholesale Corporation by 6.9%, selling 96,914 shares, which now represents approximately 0.8% of their investment portfolio.
• Costco reported earnings of $4.28 per share for the last quarter, surpassing estimates, with revenue increasing by 8.0% year-over-year to $63.21 billion.
• The company declared a quarterly dividend of $1.30 per share, payable on August 15th, reflecting a 0.5% dividend yield and a payout ratio of 29.50%.

American Century Companies Inc. trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,310,592 shares of the retailer's stock after selling 96,914 shares during the period. Costco Wholesale comprises approximately 0.8% of American Century Companies Inc.'s investment portfolio, making the stock its 13th largest holding. American Century Companies Inc. owned 0.30% of Costco Wholesale worth $1,239,532,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Investment Management Corp VA ADV bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $25,000. Aspect Partners LLC increased its stake in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new position in Costco Wholesale in the fourth quarter valued at $58,000. Mascagni Wealth Management Inc. bought a new position in Costco Wholesale in the fourth quarter valued at $59,000. Finally, Bank & Trust Co increased its stake in Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Price Performance

Shares of COST opened at $975.39 on Friday. The business's 50-day moving average is $973.11 and its two-hundred day moving average is $985.83. The company has a market capitalization of $432.57 billion, a P/E ratio of 55.33, a P/E/G ratio of 6.09 and a beta of 0.96. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

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 the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.78 EPS. Research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

Insider Activity

In related news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 8,210 shares in the company, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on COST. Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Monday, August 4th. Truist Financial raised their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Morgan Stanley boosted their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.