Ironvine Capital Partners LLC Reduces Stock Holdings in Costco Wholesale Corporation $COST

Key Points

• Ironvine Capital Partners LLC reduced its stake in Costco Wholesale by 1.0%, now holding 33,398 shares valued at approximately $31.6 million, making it the 15th largest holding in their portfolio.
• Costco announced a quarterly dividend of $1.30 per share, reflecting an annualized dividend of $5.20 and a yield of 0.5%, with a payout ratio of 29.50%.
• Several institutional investors recently adjusted their positions in Costco, with some increasing their stakes; overall, institutional ownership stands at 68.48% of the company's stock.

Ironvine Capital Partners LLC lessened its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,398 shares of the retailer's stock after selling 328 shares during the quarter. Costco Wholesale makes up about 3.4% of Ironvine Capital Partners LLC's investment portfolio, making the stock its 15th largest position. Ironvine Capital Partners LLC's holdings in Costco Wholesale were worth $31,587,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Corps Capital Advisors LLC boosted its stake in Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after acquiring an additional 10 shares in the last quarter. Covestor Ltd lifted its position in shares of Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after buying an additional 10 shares in the last quarter. Rooted Wealth Advisors Inc. raised its stake in shares of Costco Wholesale by 2.6% during the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock worth $404,000 after purchasing an additional 11 shares during the period. Bank & Trust Co raised its stake in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after buying an additional 11 shares during the period. Finally, Amplius Wealth Advisors LLC raised its stake in Costco Wholesale by 1.3% in the 1st quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer's stock valued at $819,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, August 27th. Morgan Stanley raised their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research note on Thursday, May 29th. Finally, Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,050.00.

Costco Wholesale Trading Up 0.8%

Shares of NASDAQ COST traded up $7.58 during midday trading on Friday, hitting $963.48. The company's stock had a trading volume of 1,926,561 shares, compared to its average volume of 2,013,209. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $962.23 and its two-hundred day moving average is $977.68. 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 cap of $427.28 billion, a P/E ratio of 54.65, a price-to-earnings-growth ratio of 5.40 and a beta of 0.97.

Costco Wholesale Announces Dividend

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

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director directly owned 11,531 shares of the company's stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the sale, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,147 shares of company stock worth $8,039,440 in the last ninety days. Corporate 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.