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Costco Wholesale Corporation (NASDAQ:COST) Stake Reduced by W.H. Cornerstone Investments Inc.

Costco Wholesale logo with Retail/Wholesale background

Key Points

  • W.H. Cornerstone Investments Inc. reduced its stake in Costco Wholesale Corporation by 21.4%, now owning 4,363 shares worth $4.1 million, making it the firm's 10th biggest position.
  • Insider selling activity was evident as Director Susan L. Decker sold 547 shares for over $536,000, while EVP Patrick J. Callans sold 3,000 shares valued at approximately $3 million.
  • Costco announced a quarterly dividend of $1.30, resulting in a 0.5% yield, with a payout ratio of 29.5%; the dividend will be paid to shareholders on August 15th.
  • Interested in Costco Wholesale? Here are five stocks we like better.

W.H. Cornerstone Investments Inc. reduced its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 21.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,363 shares of the retailer's stock after selling 1,191 shares during the quarter. Costco Wholesale comprises about 2.9% of W.H. Cornerstone Investments Inc.'s portfolio, making the stock its 10th biggest position. W.H. Cornerstone Investments Inc.'s holdings in Costco Wholesale were worth $4,127,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after acquiring an additional 2,172 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after acquiring an additional 130 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in shares of Costco Wholesale by 45.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock valued at $107,436,000 after acquiring an additional 36,384 shares during the period. Highview Capital Management LLC DE increased its holdings in shares of Costco Wholesale by 0.8% in the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock valued at $4,410,000 after acquiring an additional 40 shares during the period. Finally, Hudson Value Partners LLC increased its holdings in shares of Costco Wholesale by 5.7% in the 4th quarter. Hudson Value Partners LLC now owns 8,501 shares of the retailer's stock valued at $7,789,000 after acquiring an additional 455 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Susan L. Decker sold 547 shares of Costco Wholesale 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 completion of the transaction, the director owned 11,531 shares in the company, valued at $11,300,380. The trade was a 4.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock opened at $952.52 on Monday. The company has a quick ratio of 0.52, a current ratio of 1.02 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. The business has a 50-day moving average price of $983.34 and a 200 day moving average price of $984.69. The firm has a market cap of $422.42 billion, a PE ratio of 54.03, a P/E/G ratio of 5.92 and a beta of 0.96.

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, 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 firm had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the previous year, the business earned $3.78 EPS. Costco Wholesale's revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COST. Morgan Stanley lifted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Truist Financial raised their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research report on Thursday, May 29th. Finally, Evercore ISI lowered their price objective on 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 equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,037.48.

Check Out Our Latest Report on COST

Costco Wholesale Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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.

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