Costco Wholesale Corporation (NASDAQ:COST) is Cumberland Partners Ltd's 6th Largest Position

Key Points

• Cumberland Partners Ltd increased its stake in Costco Wholesale Corporation by 1.6% in the 1st quarter, making it the firm's 6th largest position, valued at approximately $45.7 million.
• The company reported earnings of $4.28 per share for the latest quarter, surpassing analysts' estimates and showing an 8.0% year-over-year revenue growth.
• Costco announced a quarterly dividend of $1.30 per share, reflecting an annualized basis of $5.20 and a dividend yield of 0.5%.

Cumberland Partners Ltd increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,338 shares of the retailer's stock after purchasing an additional 748 shares during the quarter. Costco Wholesale makes up approximately 3.5% of Cumberland Partners Ltd's portfolio, making the stock its 6th largest position. Cumberland Partners Ltd's holdings in Costco Wholesale were worth $45,717,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peninsula Wealth LLC lifted its stake in Costco Wholesale by 1.2% during the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock worth $749,000 after purchasing an additional 10 shares during the period. Bosun Asset Management LLC raised 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 worth $583,000 after buying an additional 10 shares in the last quarter. Corps Capital Advisors LLC raised its holdings in shares of Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after buying an additional 10 shares in the last quarter. NFP Retirement Inc. lifted its position in shares of Costco Wholesale by 1.1% during the 4th quarter. NFP Retirement Inc. now owns 980 shares of the retailer's stock worth $898,000 after buying an additional 11 shares during the period. Finally, Coppell Advisory Solutions LLC boosted its stake in Costco Wholesale by 0.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock valued at $3,163,000 after buying an additional 11 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of COST opened at $952.52 on Friday. The stock has a market cap of $422.42 billion, a P/E ratio of 54.03, a price-to-earnings-growth ratio of 5.84 and a beta of 0.97. Costco Wholesale Corporation has a 1 year low of $793.00 and a 1 year high of $1,078.23. The stock's 50-day moving average price is $983.34 and its two-hundred day moving average price is $983.82. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. The firm 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 business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.78 earnings per share. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Insider Activity

In other news, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction dated 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. This trade represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 11,531 shares of the company's stock, valued at $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 in the last 90 days. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on COST. Loop Capital dropped their price objective 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. Mizuho assumed coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price on the stock. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Truist Financial boosted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Thursday, July 10th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and an average target price of $1,037.48.

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.

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