Avior Wealth Management LLC Sells 260 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Avior Wealth Management LLC decreased its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,989 shares of the retailer's stock after selling 260 shares during the period. Avior Wealth Management LLC's holdings in Costco Wholesale were worth $5,665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COST. Investment Management Corp VA ADV bought a new position in Costco Wholesale in the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $31,000. NewSquare Capital LLC grew its stake in shares of Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock valued at $32,000 after buying an additional 25 shares in the last quarter. Clear Investment Research LLC grew its stake in shares of Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after buying an additional 10 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Costco Wholesale during the fourth quarter worth $58,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Insiders Place Their Bets

In related news, EVP Pierre Riel sold 2,000 shares of the business's 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 completion of the transaction, the executive vice president now owns 8,210 shares of the company's stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gary Millerchip sold 1,100 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the sale, the executive vice president now owns 11,165 shares in the company, valued at $10,495,211.65. The trade was a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock worth $10,825,205 in the last 90 days. Company insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

NASDAQ:COST opened at $974.90 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The firm has a market cap of $432.35 billion, a price-to-earnings ratio of 55.30, a P/E/G ratio of 5.76 and a beta of 1.00. Costco Wholesale Corporation has a 52 week low of $793.00 and a 52 week high of $1,078.24. The firm's 50-day simple moving average is $1,002.60 and its 200 day simple moving average is $981.11.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. During the same period last year, the firm earned $3.78 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio is currently 29.50%.

Analysts Set New Price Targets

A number of brokerages have commented on COST. 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 research note on Friday, May 30th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Morgan Stanley raised 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 research note on Friday, May 30th. Robert W. Baird boosted their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an "outperform" rating in a research report on Friday, March 7th. Finally, Cowen restated a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,034.79.

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.

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST - Free Report).

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.