Cary Street Partners Investment Advisory LLC Has $1.30 Million Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Cary Street Partners Investment Advisory LLC increased its stake in Costco Wholesale by 29.8%, owning 1,371 shares worth approximately $1.3 million, making it the firm's 29th largest investment.
• Costco's recent quarterly earnings report exceeded analysts' expectations, with earnings per share at $4.28 and revenues of $63.21 billion, both higher than consensus estimates.
• The company declared a quarterly dividend of $1.30 per share, set to be paid on August 15th, reflecting a 0.5% dividend yield based on its annual payout.

Cary Street Partners Investment Advisory LLC grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 29.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,371 shares of the retailer's stock after acquiring an additional 315 shares during the quarter. Costco Wholesale accounts for 0.7% of Cary Street Partners Investment Advisory LLC's holdings, making the stock its 29th biggest position. Cary Street Partners Investment Advisory LLC's holdings in Costco Wholesale were worth $1,297,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Personal CFO Solutions LLC raised its stake in Costco Wholesale by 12.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock valued at $1,436,000 after acquiring an additional 167 shares during the period. F&V Capital Management LLC bought a new position in shares of Costco Wholesale in the first quarter valued at about $236,000. Graybill Wealth Management LTD. acquired a new stake in shares of Costco Wholesale during the 1st quarter worth about $3,095,000. Curat Global LLC acquired a new stake in shares of Costco Wholesale during the 1st quarter worth about $241,000. Finally, Gateway Wealth Partners LLC boosted its holdings in shares of Costco Wholesale by 2.0% during the 1st quarter. Gateway Wealth Partners LLC now owns 1,380 shares of the retailer's stock worth $1,305,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 68.48% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on COST. Truist Financial raised their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Mizuho started coverage on Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target for the company. Evercore ISI reduced their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday. Finally, Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday, May 29th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,037.48.

Insider Activity at Costco Wholesale

In other news, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This represents a 4.53% decrease in their position. The sale 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 firm's stock in a transaction on Friday, June 6th. The shares were 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 directly owned 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock valued at $9,472,510 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $955.37 on Tuesday. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.23. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The stock's 50-day simple moving average is $982.28 and its 200 day simple moving average is $984.78. The firm has a market capitalization of $423.68 billion, a PE ratio of 54.19, a price-to-earnings-growth ratio of 5.92 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. The company had revenue of $63.21 billion for 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 firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $3.78 EPS. On average, analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued 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 is 29.50%.

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.

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