Novare Capital Management LLC decreased its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 10.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,462 shares of the retailer's stock after selling 281 shares during the quarter. Novare Capital Management LLC's holdings in Costco Wholesale were worth $2,329,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale in the 4th quarter valued at approximately $25,000. Clear Investment Research LLC lifted its stake in Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after buying an additional 10 shares in the last quarter. Aspect Partners LLC lifted its stake in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in Costco Wholesale in the 4th quarter valued at approximately $58,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Costco Wholesale in the 4th quarter valued at approximately $59,000. Hedge funds and other institutional investors own 68.48% of the company's stock.
Costco Wholesale Stock Up 0.5%
NASDAQ:COST traded up $5.16 during mid-day trading on Monday, reaching $992.18. The stock had a trading volume of 1,831,328 shares, compared to its average volume of 2,073,144. The company has a market capitalization of $440.01 billion, a price-to-earnings ratio of 56.28, a price-to-earnings-growth ratio of 6.14 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 50 day simple moving average is $1,005.20 and its two-hundred day simple moving average is $981.38. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.
Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The business 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%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $3.78 earnings per share. Equities analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.
Costco Wholesale Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.52%. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.
Insider Transactions at Costco Wholesale
In related news, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the transaction, the executive vice president directly owned 43,994 shares in the company, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the transaction, the director directly owned 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% 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 valued at $9,496,950 over the last ninety days. 0.18% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on COST shares. Cfra Research raised Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Truist Financial increased their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Barclays increased their price target on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research note on Thursday, May 29th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,034.79.
Check Out Our Latest Stock Analysis on Costco Wholesale
About Costco Wholesale
(
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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