Invera Wealth Advisors LLC lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 29.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,236 shares of the retailer's stock after selling 523 shares during the quarter. Costco Wholesale accounts for 1.4% of Invera Wealth Advisors LLC's investment portfolio, making the stock its 22nd biggest position. Invera Wealth Advisors LLC's holdings in Costco Wholesale were worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after acquiring an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after acquiring an additional 130 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of Costco Wholesale by 45.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after acquiring an additional 36,384 shares in the last quarter. Highview Capital Management LLC DE lifted its stake in shares of Costco Wholesale by 0.8% in the fourth quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock worth $4,410,000 after acquiring an additional 40 shares in the last quarter. Finally, Hudson Value Partners LLC lifted its stake in shares of Costco Wholesale by 5.7% in the fourth quarter. Hudson Value Partners LLC now owns 8,501 shares of the retailer's stock worth $7,789,000 after acquiring an additional 455 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.
Costco Wholesale Stock Performance
Shares of NASDAQ:COST traded down $16.31 during trading on Wednesday, hitting $951.37. 2,943,630 shares of the company traded hands, compared to its average volume of 2,065,970. The stock has a market capitalization of $421.91 billion, a price-to-earnings ratio of 53.96, a PEG ratio of 6.02 and a beta of 0.97. The business's fifty day moving average is $1,001.13 and its 200-day moving average is $982.21. Costco Wholesale Corporation has a one year low of $793.00 and a one year 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.
Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same period in the prior year, the company earned $3.78 earnings per share. The business's revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.
Costco Wholesale Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.55%. Costco Wholesale's payout ratio is currently 29.50%.
Wall Street Analyst Weigh In
COST has been the topic of several recent analyst reports. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Loop Capital cut their price target on 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. Mizuho initiated coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target on the stock. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research note on Thursday, May 29th. Nine 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.
Check Out Our Latest Stock Report on COST
Insider Activity
In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president owned 8,210 shares of the company's stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value 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. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,547 shares of company stock worth $13,396,790 over the last ninety days. 0.18% of the stock is currently owned by company insiders.
Costco Wholesale Profile
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Free Report)
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.
Further Reading
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