WealthShield Partners LLC Sells 667 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• WealthShield Partners LLC reduced its stake in Costco by 16%, holding 3,511 shares valued at approximately $3.32 million as of the most recent quarter.
• Institutional investors now own 68.48% of Costco's stock, with significant stake changes from various hedge funds reported during the first quarter.
• Costco announced a quarterly dividend of $1.30 per share, with a payout ratio of 29.50%, reflecting its stable financial health.

WealthShield Partners LLC lowered its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 16.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,511 shares of the retailer's stock after selling 667 shares during the period. WealthShield Partners LLC's holdings in Costco Wholesale were worth $3,321,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Costco Wholesale by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock worth $40,332,515,000 after purchasing an additional 443,101 shares in the last quarter. GAMMA Investing LLC increased its position 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 valued at $7,717,744,000 after buying an additional 8,152,528 shares in the last quarter. Northern Trust Corp raised its stake in Costco Wholesale by 12.6% during the fourth 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 during the last quarter. Capital World Investors raised its stake in Costco Wholesale by 0.5% during the fourth quarter. Capital World Investors now owns 3,990,957 shares of the retailer's stock valued at $3,656,828,000 after buying an additional 18,897 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Costco Wholesale by 3.9% in the first quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer's stock worth $3,175,579,000 after acquiring an additional 125,441 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST traded up $8.89 during trading on Thursday, hitting $977.45. The company's stock had a trading volume of 1,889,814 shares, compared to its average volume of 2,222,700. 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 has a market cap of $433.48 billion, a price-to-earnings ratio of 55.44, a P/E/G ratio of 6.02 and a beta of 0.96. The company has a 50-day moving average of $979.28 and a 200-day moving average of $984.62. Costco Wholesale Corporation has a 12 month low of $820.45 and a 12 month high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping 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 business had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same period last year, the firm earned $3.78 earnings per share. The company's quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently declared 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. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale's payout ratio is currently 29.50%.

Wall Street Analyst Weigh In

COST has been the subject of several analyst reports. Loop Capital reduced their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report 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. Mizuho initiated coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price for the company. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research note on Thursday, May 29th. Finally, Evercore ISI reduced their price target 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. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,040.81.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of the 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 of the company's stock, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the transaction, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,547 shares of company stock worth $9,472,510. Company insiders own 0.18% of the company's stock.

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.