Costco Wholesale Corporation (NASDAQ:COST) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp decreased its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 9.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,786 shares of the retailer's stock after selling 795 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Costco Wholesale were worth $7,364,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $25,000. Aspect Partners LLC grew its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $58,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $59,000. Finally, Bank & Trust Co grew its position 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 in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Activity

In related news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction dated Friday, June 6th. The shares were 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 in the company, valued at $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,547 shares of company stock valued at $9,472,510. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Trading Down 0.3%

Shares of COST opened at $950.95 on Friday. The stock has a fifty day moving average of $998.91 and a two-hundred day moving average of $983.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The company has a market capitalization of $421.73 billion, a PE ratio of 53.94, a price-to-earnings-growth ratio of 5.91 and a beta of 0.97. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24.

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

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 yield of 0.55%. Costco Wholesale's payout ratio is currently 29.50%.

Wall Street Analysts Forecast Growth

COST has been the subject of several recent analyst reports. Truist Financial raised their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Loop Capital reduced their price objective 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,037.48.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.