Corient IA LLC Buys Shares of 500 Costco Wholesale Corporation $COST

Key Points

• Corient IA LLC has acquired a new position in Costco Wholesale, purchasing 500 shares valued at approximately $473,000.
• Costco recently reported $4.28 earnings per share for the quarter, exceeding analysts' estimates, with revenue up 8.0% year-over-year, totaling $63.21 billion.
• The company announced a quarterly dividend of $1.30 per share, representing an annualized return of $5.20 and a dividend yield of 0.5%.

Corient IA LLC purchased a new position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 500 shares of the retailer's stock, valued at approximately $473,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bosun Asset Management LLC boosted its holdings in shares of Costco Wholesale by 1.6% in the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock valued at $583,000 after buying an additional 10 shares in the last quarter. Corps Capital Advisors LLC raised its position in Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after purchasing an additional 10 shares during the last quarter. Covestor Ltd boosted its stake in Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after purchasing an additional 10 shares during the period. Coppell Advisory Solutions LLC grew its position in Costco Wholesale by 0.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock worth $3,163,000 after purchasing an additional 11 shares during the last quarter. Finally, Rooted Wealth Advisors Inc. raised its stake in Costco Wholesale by 2.6% during the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock valued at $404,000 after acquiring an additional 11 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Trading Down 2.5%

Shares of COST stock traded down $25.0010 during mid-day trading on Thursday, reaching $969.5690. The company's stock had a trading volume of 1,055,038 shares, compared to its average volume of 2,200,436. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The firm has a market capitalization of $429.98 billion, a PE ratio of 55.00, a price-to-earnings-growth ratio of 6.10 and a beta of 0.96. The company's 50 day simple moving average is $971.14 and its 200-day simple moving average is $986.14.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%.The firm had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the prior year, the business posted $3.78 earnings per share. Costco Wholesale's revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio is currently 29.50%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on COST shares. Loop Capital cut their target price 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. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, August 4th. 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 report on Friday, May 30th. Morgan Stanley increased their price objective 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. Finally, Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a report on Thursday, May 29th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Insider Buying and Selling

In related news, Director Susan L. Decker sold 547 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction 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 represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the company'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 completion of the sale, the executive vice president directly owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,547 shares of company stock valued at $9,472,510. Insiders own 0.18% of the company's stock.

Costco Wholesale Company 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.