Costco Wholesale Corporation (NASDAQ:COST) Stock Position Decreased by NWK Group Inc.

Key Points

• NWK Group Inc. has reduced its holdings in Costco by 2.8%, now owning 15,099 shares, making Costco its second-largest position at approximately $14.28 million.
• Brokerages have recently adjusted their ratings and price targets for Costco, with an average target price of $1,050.00 and many analysts rating the stock as a "Moderate Buy."
• Costco plans to pay a quarterly dividend of $1.30 per share, with the ex-dividend date set for August 1st, reflecting a 0.5% yield.

NWK Group Inc. lowered its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,099 shares of the retailer's stock after selling 431 shares during the quarter. Costco Wholesale makes up approximately 6.5% of NWK Group Inc.'s investment portfolio, making the stock its 2nd largest position. NWK Group Inc.'s holdings in Costco Wholesale were worth $14,280,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of COST. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale during the 4th quarter worth approximately $25,000. Aspect Partners LLC lifted its holdings 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 last quarter. Capital A Wealth Management LLC bought a new position in Costco Wholesale during the fourth quarter worth $58,000. Mascagni Wealth Management Inc. bought a new position in Costco Wholesale during the fourth quarter worth $59,000. Finally, Bank & Trust Co increased its holdings 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 purchasing an additional 11 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on COST. Truist Financial raised their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Morgan Stanley increased 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. Finally, Evercore ISI reduced their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Costco Wholesale Stock Up 0.4%

Shares of NASDAQ:COST traded up $3.53 on Friday, hitting $980.98. 2,188,224 shares of the company traded hands, compared to its average volume of 2,172,175. Costco Wholesale Corporation has a 52 week low of $837.63 and a 52 week high of $1,078.23. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $977.93 and a 200-day simple moving average of $985.13. The company has a market cap of $435.05 billion, a PE ratio of 55.64, a PEG ratio of 6.10 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share 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 firm had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same period last year, the company earned $3.78 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. As a group, research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business 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. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.5%. Costco Wholesale's dividend payout ratio is currently 29.50%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president owned 58,543 shares in the company, valued at approximately $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 a total of 9,547 shares of company stock worth $9,472,510 over the last quarter. 0.18% of the stock is currently owned by insiders.

About Costco Wholesale

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.