Aveo Capital Partners LLC Sells 939 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Aveo Capital Partners LLC reduced its stake in Costco Wholesale by 56.0% during the first quarter, bringing its total holdings to 738 shares valued at $743,000.
• Costco announced a quarterly dividend of $1.30 per share, set to be paid on August 15, which represents a 0.5% yield.
• Despite insider selling, analysts maintain a consensus rating of "Moderate Buy" for Costco, with a target price averaging $1,050.00.

Aveo Capital Partners LLC decreased its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 56.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 738 shares of the retailer's stock after selling 939 shares during the quarter. Aveo Capital Partners LLC's holdings in Costco Wholesale were worth $743,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new position in Costco Wholesale in the 4th quarter valued at about $25,000. Aspect Partners LLC raised its holdings in Costco Wholesale by 24.4% in the 1st 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 period. Capital A Wealth Management LLC bought a new position in Costco Wholesale in the 4th quarter valued at about $58,000. Mascagni Wealth Management Inc. bought a new position in Costco Wholesale in the 4th quarter valued at about $59,000. Finally, Bank & Trust Co raised its holdings in Costco Wholesale by 20.4% in the 1st 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 period. Institutional investors and hedge funds own 68.48% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on COST shares. Truist Financial increased their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Loop Capital lowered their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Erste Group Bank cut shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Finally, Morgan Stanley raised their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock 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 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 Trading Up 0.8%

NASDAQ:COST traded up $7.76 during trading hours on Monday, reaching $988.74. The company's stock had a trading volume of 2,288,841 shares, compared to its average volume of 2,222,014. The firm has a market capitalization of $438.48 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 6.10 and a beta of 0.96. The firm has a 50-day simple moving average of $977.93 and a 200-day simple moving average of $985.43. Costco Wholesale Corporation has a 1 year low of $852.40 and a 1 year 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 issued its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.78 EPS. Research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Insider Activity

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,472,510 in the last quarter. Insiders own 0.18% of the company's stock.

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.