Costco Wholesale Corporation (NASDAQ:COST) Shares Sold by Dearborn Partners LLC

Key Points

• Dearborn Partners LLC has reduced its stake in Costco by 17.1%, selling 7,093 shares in the first quarter, leaving it with a total of 34,286 shares valued at approximately $32.4 million.
• Several hedge funds, including Brighton Jones LLC and Bank Pictet & Cie Europe AG, increased their investments in Costco, highlighting a broad interest from institutional investors, which now own 68.48% of the company.
• Costco recently announced a quarterly dividend of $1.30, representing an annual yield of 0.56%, with the payout ratio standing at 29.50%.

Dearborn Partners LLC trimmed its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,286 shares of the retailer's stock after selling 7,093 shares during the quarter. Costco Wholesale makes up about 1.6% of Dearborn Partners LLC's portfolio, making the stock its 24th biggest holding. Dearborn Partners LLC's holdings in Costco Wholesale were worth $32,427,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale during the fourth quarter worth approximately $25,000. Aspect Partners LLC boosted its position in shares of 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 acquiring an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in Costco Wholesale in the 4th quarter valued at about $58,000. Mascagni Wealth Management Inc. acquired a new position in Costco Wholesale in the fourth quarter valued at approximately $59,000. Finally, Bank & Trust Co raised its position in 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 period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Costco Wholesale stock traded down $7.06 during midday trading on Wednesday, reaching $927.51. The company's stock had a trading volume of 1,682,635 shares, compared to its average volume of 1,941,458. 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 Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.23. The firm has a market capitalization of $411.33 billion, a PE ratio of 52.61, a P/E/G ratio of 5.81 and a beta of 0.97. The stock's 50 day simple moving average is $986.03 and its 200 day simple moving average is $983.48.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $63.21 billion during 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%. Costco Wholesale's quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $3.78 EPS. On average, equities research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. Costco Wholesale's payout ratio is 29.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on COST shares. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Thursday, July 10th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research note on Thursday, May 29th. Loop Capital cut their target price on shares of 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. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Morgan Stanley increased their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's 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.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. The trade was a 4.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the company'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 completion of the sale, the executive vice president directly owned 5,774 shares in the company, 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 sold a total of 9,547 shares of company stock valued at $9,472,510 in the last quarter. Insiders own 0.18% of the company's stock.

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.