Kovack Advisors Inc. Sells 1,843 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Kovack Advisors Inc. lowered its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 38.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,906 shares of the retailer's stock after selling 1,843 shares during the period. Kovack Advisors Inc.'s holdings in Costco Wholesale were worth $2,749,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Costco Wholesale by 106,402.1% during the 1st 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. Norges Bank acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $5,182,316,000. Leigh Baldwin & CO. LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $95,452,000. Northern Trust Corp boosted its holdings in shares of Costco Wholesale by 12.6% in the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock valued at $4,817,573,000 after buying an additional 587,303 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Costco Wholesale by 79.5% in the 4th quarter. Capital Research Global Investors now owns 775,541 shares of the retailer's stock valued at $710,624,000 after buying an additional 343,390 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Costco Wholesale stock traded up $1.68 during mid-day trading on Friday, reaching $935.48. The company's stock had a trading volume of 1,825,525 shares, compared to its average volume of 1,969,335. The firm has a market cap of $414.86 billion, a price-to-earnings ratio of 53.06, a PEG ratio of 5.82 and a beta of 0.97. The business has a 50 day moving average price of $992.04 and a 200-day moving average price of $983.84. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.23.

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, topping analysts' consensus estimates 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 net margin of 2.92% and a return on equity of 30.48%. The firm's revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.78 earnings per share. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal 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 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 0.56%. Costco Wholesale's payout ratio is presently 29.50%.

Insider Buying and Selling

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was 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 approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction 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 business's stock in a transaction dated 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 sale, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. 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 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Truist Financial increased their price target 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. Loop Capital cut their price objective on shares of 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 Thursday, July 10th. Finally, Evercore ISI cut their price objective on shares of 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. Nine investment analysts have rated the stock with a hold rating and twenty have assigned 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 $1,037.48.

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.