Costco Wholesale Corporation (NASDAQ:COST) Shares Sold by Zevin Asset Management LLC

Zevin Asset Management LLC reduced its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,333 shares of the retailer's stock after selling 5,246 shares during the quarter. Costco Wholesale makes up approximately 3.8% of Zevin Asset Management LLC's portfolio, making the stock its 6th biggest position. Zevin Asset Management LLC's holdings in Costco Wholesale were worth $23,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale during the fourth quarter worth approximately $25,000. Aspect Partners LLC lifted its stake in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in Costco Wholesale during the fourth quarter worth approximately $58,000. Mascagni Wealth Management Inc. purchased a new stake in Costco Wholesale during the fourth quarter worth approximately $59,000. Finally, Bank & Trust Co lifted its stake in Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COST. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Mizuho assumed coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price objective for the company. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale 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, Truist Financial boosted their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,037.48.

Costco Wholesale Price Performance

Costco Wholesale stock traded up $0.39 during trading hours on Tuesday, hitting $947.95. The stock had a trading volume of 692,246 shares, compared to its average volume of 2,060,903. 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 stock has a market capitalization of $420.40 billion, a price-to-earnings ratio of 53.71, a PEG ratio of 5.91 and a beta of 0.97. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. The stock's fifty day moving average is $998.91 and its two-hundred day moving average is $983.64.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results 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. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the prior year, the company earned $3.78 earnings per share. Costco Wholesale's revenue was up 8.0% compared to the same quarter last year. As a group, analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share 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. Stockholders 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 annualized dividend and a dividend yield of 0.55%. Costco Wholesale's dividend payout ratio is currently 29.50%.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,472,510 over the last three months. 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.

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