Costco Wholesale Corporation $COST Stock Holdings Lessened by CapWealth Advisors LLC

Key Points

• CapWealth Advisors LLC has reduced its stake in Costco Wholesale Corporation by 5.3%, owning 10,945 shares valued at approximately $10.8 million after selling 613 shares.
• Despite some investors reducing their holdings, 68.48% of Costco’s stock is still owned by institutional investors as of the latest filing.
• Costco reported quarterly earnings of $5.87 per share, exceeding analyst expectations of $5.81, with revenue increasing 8.1% from the previous year.

CapWealth Advisors LLC lowered its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,945 shares of the retailer's stock after selling 613 shares during the period. CapWealth Advisors LLC's holdings in Costco Wholesale were worth $10,835,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Corps Capital Advisors LLC raised its stake in Costco Wholesale by 0.7% during 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 period. Covestor Ltd raised its stake in Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer's stock valued at $119,000 after purchasing an additional 10 shares during the period. MOKAN Wealth Management Inc. raised its stake in Costco Wholesale by 0.4% during the 1st quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer's stock valued at $2,499,000 after purchasing an additional 11 shares during the period. Aspect Partners LLC raised its stake in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares during the period. Finally, Viewpoint Capital Management LLC raised its stake in Costco Wholesale by 0.4% during the 1st quarter. Viewpoint Capital Management LLC now owns 2,689 shares of the retailer's stock valued at $2,543,000 after purchasing an additional 11 shares during the period. Institutional investors own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Evercore ISI cut their target price on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an "outperform" rating on the stock in a research note on Friday, September 26th. The Goldman Sachs Group boosted their target price on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Oppenheimer reissued an "outperform" rating and set a $1,130.00 target price on shares of Costco Wholesale in a research note on Friday, September 26th. Finally, Daiwa Capital Markets dropped their price target on shares of Costco Wholesale from $1,005.00 to $947.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 30th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,068.15.

Insiders Place Their Bets

In related news, EVP Russell D. Miller sold 3,381 shares of the company's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the sale, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares of the company's stock, valued at $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Trading Up 1.2%

NASDAQ COST opened at $936.33 on Friday. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $414.96 billion, a PE ratio of 51.42, a price-to-earnings-growth ratio of 5.61 and a beta of 0.98. The firm's fifty day simple moving average is $949.51 and its 200-day simple moving average is $971.49.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping analysts' consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the prior year, the business posted $5.15 earnings per share. Costco Wholesale's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a $1.30 dividend. The ex-dividend date is Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale's dividend payout ratio is currently 28.56%.

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.

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