Lyell Wealth Management LP Has $25.99 Million Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Lyell Wealth Management LP increased its stake in Costco Wholesale by 1.1%, making Costco the 7th biggest holding in their portfolio, valued at approximately $25.99 million.
• Costco's quarterly earnings report showed earnings per share of $4.28, beating estimates, with revenues of $63.21 billion, marking an 8.0% year-over-year increase.
• The company declared a quarterly dividend of $1.30, set to be paid on August 15th, representing a yield of 0.56% annually.

Lyell Wealth Management LP grew its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,482 shares of the retailer's stock after buying an additional 303 shares during the quarter. Costco Wholesale comprises 2.4% of Lyell Wealth Management LP's holdings, making the stock its 7th biggest position. Lyell Wealth Management LP's holdings in Costco Wholesale were worth $25,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of Costco Wholesale by 106,402.1% in the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after acquiring an additional 8,152,528 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth approximately $95,452,000. Northern Trust Corp increased its position in shares of Costco Wholesale by 12.6% in the fourth quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock worth $4,817,573,000 after acquiring an additional 587,303 shares in the last quarter. Capital Research Global Investors increased its position in shares of Costco Wholesale by 79.5% in the fourth quarter. Capital Research Global Investors now owns 775,541 shares of the retailer's stock worth $710,624,000 after acquiring an additional 343,390 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Costco Wholesale during the fourth quarter valued at approximately $280,046,000. 68.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on COST shares. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Mizuho started coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price for the company. Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, July 10th. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Finally, Truist Financial boosted their price objective 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. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,037.48.

Insider Activity at Costco Wholesale

In other news, EVP Pierre Riel sold 2,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the sale, the executive vice president owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,472,510 in the last ninety days. Company insiders own 0.18% of the company's stock.

Costco Wholesale Stock Up 1.3%

COST traded up $12.13 during trading on Thursday, reaching $939.64. 2,560,014 shares of the stock were exchanged, compared to its average volume of 1,946,133. The stock has a market cap of $416.71 billion, a P/E ratio of 53.30, a price-to-earnings-growth ratio of 5.77 and a beta of 0.97. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.23. The stock's 50 day moving average price is $984.46 and its two-hundred day moving average price is $983.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data 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 net margin of 2.92% and a return on equity of 30.48%. The firm had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same period in the previous year, the company earned $3.78 earnings per share. The company's quarterly revenue was up 8.0% on a year-over-year basis. Equities analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, August 1st. Costco Wholesale's payout ratio is currently 29.50%.

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.