Concord Asset Management LLC VA Lowers Stake in Costco Wholesale Corporation (NASDAQ:COST)

Concord Asset Management LLC VA reduced its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 34.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,827 shares of the retailer's stock after selling 1,496 shares during the quarter. Concord Asset Management LLC VA's holdings in Costco Wholesale were worth $2,759,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COST. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale in the fourth quarter worth about $25,000. Clear Investment Research LLC increased its holdings in shares of Costco Wholesale by 22.2% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after acquiring an additional 10 shares in the last quarter. Aspect Partners LLC increased its holdings in shares of Costco Wholesale by 24.4% during 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 in the last quarter. Capital A Wealth Management LLC acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $58,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $59,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the transaction, the executive vice president directly owned 8,210 shares in the company, valued at $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 $9,496,950. 0.18% of the stock is owned by insiders.

Costco Wholesale Trading Up 1.1%

Shares of COST opened at $980.91 on Tuesday. Costco Wholesale Corporation has a 52-week low of $793.00 and a 52-week high of $1,078.24. 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 firm's fifty day moving average is $1,003.09 and its two-hundred day moving average is $982.53. The stock has a market cap of $435.01 billion, a PE ratio of 55.64, a price-to-earnings-growth ratio of 6.03 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (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 quarter in the previous year, the company posted $3.78 EPS. The firm's quarterly revenue was up 8.0% on a year-over-year basis. Research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price target 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Thursday, July 10th. Truist Financial increased 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. Loop Capital dropped their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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