Connable Office Inc. Has $3.08 Million Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Connable Office Inc. reduced its stake in Costco Wholesale by 14.1%, now owning 3,255 shares worth approximately $3,079,000 after selling 534 shares in the 1st quarter.
• Several large investors, including Earned Wealth Advisors LLC and Commonwealth Equity Services LLC, have increased their holdings in Costco, indicating robust institutional interest with 68.48% of stock owned by institutions.
• Costco declared a quarterly dividend of $1.30, with an annualized yield of 0.5%, scheduled for payment on August 15th to shareholders record on August 1st.

Connable Office Inc. decreased its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 14.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,255 shares of the retailer's stock after selling 534 shares during the quarter. Connable Office Inc.'s holdings in Costco Wholesale were worth $3,079,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Costco Wholesale by 1.6% in the 4th quarter. FMR LLC now owns 9,457,824 shares of the retailer's stock valued at $8,665,921,000 after buying an additional 149,209 shares during the last quarter. GAMMA Investing LLC grew its stake in Costco Wholesale by 106,402.1% in the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock valued at $7,717,744,000 after buying an additional 8,152,528 shares during the last quarter. Northern Trust Corp grew its stake in Costco Wholesale by 12.6% in the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock valued at $4,817,573,000 after buying an additional 587,303 shares during the last quarter. Capital World Investors grew its stake in Costco Wholesale by 0.5% in the 4th quarter. Capital World Investors now owns 3,990,957 shares of the retailer's stock valued at $3,656,828,000 after buying an additional 18,897 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Costco Wholesale by 1.2% in the 4th quarter. Invesco Ltd. now owns 3,715,685 shares of the retailer's stock valued at $3,404,571,000 after buying an additional 43,266 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Down 0.7%

NASDAQ:COST traded down $6.30 during trading hours on Tuesday, hitting $949.07. The stock had a trading volume of 932,791 shares, compared to its average volume of 2,209,326. The business's 50 day moving average is $982.28 and its 200-day moving average is $984.78. 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 Corporation has a one year low of $805.06 and a one year high of $1,078.23. The company has a market cap of $420.89 billion, a price-to-earnings ratio of 53.73, a P/E/G ratio of 5.92 and a beta of 0.96.

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. The business had revenue of $63.21 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.78 earnings per share. Sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

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 paid a $1.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Wall Street Analyst Weigh In

COST has been the topic of several research analyst reports. Truist Financial raised their price target 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. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Monday. Morgan Stanley raised 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 research report on Friday, May 30th. Loop Capital decreased their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Evercore ISI decreased their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,037.48.

Insider Activity

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the sale, the director owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is owned by insiders.

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.