Costco Wholesale Corporation (NASDAQ:COST) Holdings Raised by Blue Sky Capital Consultants Group Inc.

Key Points

• Blue Sky Capital Consultants Group Inc. increased its stake in Costco by 29.3% during the first quarter, now holding 8,333 shares valued at approximately $7.88 million, making it Costco's 6th largest position.
• Costco reported a quarterly earnings per share (EPS) of $4.28, exceeding estimates of $4.24, with revenue of $63.21 billion, up 8.0% year-over-year.
• The company declared a $1.30 quarterly dividend, representing a $5.20 annualized yield with a payout ratio of 29.5%, to be paid to shareholders on August 15th.

Blue Sky Capital Consultants Group Inc. raised its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 29.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,333 shares of the retailer's stock after acquiring an additional 1,888 shares during the quarter. Costco Wholesale makes up 5.2% of Blue Sky Capital Consultants Group Inc.'s investment portfolio, making the stock its 6th largest holding. Blue Sky Capital Consultants Group Inc.'s holdings in Costco Wholesale were worth $7,881,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after buying an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after acquiring an additional 130 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Costco Wholesale by 45.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after purchasing an additional 36,384 shares in the last quarter. Highview Capital Management LLC DE grew its stake in shares of Costco Wholesale by 0.8% during the fourth quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock valued at $4,410,000 after purchasing an additional 40 shares during the last quarter. Finally, Hudson Value Partners LLC grew its stake in shares of Costco Wholesale by 5.7% during the fourth quarter. Hudson Value Partners LLC now owns 8,501 shares of the retailer's stock valued at $7,789,000 after purchasing an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Price Performance

Shares of COST traded up $2.85 during trading hours on Monday, hitting $955.37. 2,388,420 shares of the stock were exchanged, compared to its average volume of 2,166,006. The company has a market cap of $423.69 billion, a price-to-earnings ratio of 54.19, a price-to-earnings-growth ratio of 5.92 and a beta of 0.96. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.23. The stock's 50-day moving average price is $983.34 and its two-hundred day moving average price is $984.69. 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 announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. The business had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.78 EPS. Research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

Insider Activity

In related news, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the company'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 transaction, the executive vice president directly owned 8,210 shares of the company's stock, valued at approximately $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 sold 9,547 shares of company stock worth $9,472,510 in the last ninety days. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research report on Thursday, May 29th. Mizuho started coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They set a "neutral" rating and a $975.00 target price for the company. Truist Financial upped their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Finally, Loop Capital reduced their price target 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. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Costco Wholesale currently has an average rating of "Moderate Buy" and an average price target of $1,037.48.

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.