Commonwealth Equity Services LLC Has $404.19 Million Stake in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Commonwealth Equity Services LLC increased its stake in Costco Wholesale by 5.1% in the first quarter, now owning approximately $404 million worth of shares.
• Costco's most recent earnings report indicated an EPS of $4.28, exceeding analyst expectations, with revenues reaching $63.21 billion and an increase in quarterly revenue of 8.0% year-over-year.
• The company announced a quarterly dividend of $1.30 per share, with a payout ratio of 29.50%, reflecting a commitment to return value to shareholders.

Commonwealth Equity Services LLC increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 427,359 shares of the retailer's stock after acquiring an additional 20,604 shares during the period. Costco Wholesale makes up about 0.6% of Commonwealth Equity Services LLC's investment portfolio, making the stock its 20th largest position. Commonwealth Equity Services LLC owned approximately 0.10% of Costco Wholesale worth $404,187,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $25,000. Aspect Partners LLC boosted its position in shares of Costco Wholesale by 24.4% in 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. Capital A Wealth Management LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $59,000. Finally, Bank & Trust Co boosted its position in shares of Costco Wholesale by 20.4% in the 1st 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 period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

Shares of COST stock traded up $2.85 during trading on Monday, reaching $955.37. The company had a trading volume of 2,388,420 shares, compared to its average volume of 2,166,006. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The firm's 50 day simple moving average is $983.34 and its two-hundred day simple moving average is $984.69. The company has a market capitalization of $423.69 billion, a PE ratio of 54.19, a PEG ratio of 5.92 and a beta of 0.96. Costco Wholesale Corporation has a one year low of $793.00 and a one year high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.78 EPS. Sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $1.30 per share. 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 payout ratio is currently 29.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COST shares. Evercore ISI decreased their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Morgan Stanley raised their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Loop Capital decreased 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 report on Thursday, May 29th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Monday. Finally, Mizuho started coverage on Costco Wholesale in a research report on Friday, April 11th. They set a "neutral" rating and a $975.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,037.48.

Insider Transactions at Costco Wholesale

In other news, Director Susan L. Decker sold 547 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,547 shares of company stock valued at $9,472,510. Company insiders own 0.18% of the company's stock.

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.