Costco Wholesale Corporation (NASDAQ:COST) Stock Position Lowered by IPG Investment Advisors LLC

Key Points

• IPG Investment Advisors LLC has reduced its stake in Costco Wholesale by 32.6%, selling 1,521 shares and now holding 3,149 shares worth approximately $2.98 million.
• Costco's recent quarterly earnings report showed an EPS of $4.28, exceeding expectations, with revenue of $63.21 billion—an 8% increase year-over-year.
• The company announced a quarterly dividend of $1.30 per share, set to be paid on August 15th, signaling a strong 29.5% payout ratio.

IPG Investment Advisors LLC lessened its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,149 shares of the retailer's stock after selling 1,521 shares during the quarter. IPG Investment Advisors LLC's holdings in Costco Wholesale were worth $2,978,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $25,000. Aspect Partners LLC lifted its position in shares of 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 acquiring an additional 11 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $58,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $59,000. Finally, Bank & Trust Co lifted its position in Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Loop Capital cut their target price 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 reiterated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, July 10th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Finally, Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,037.48.

Insider Activity at Costco Wholesale

In related news, Director Susan L. Decker sold 547 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director owned 11,531 shares of the company's stock, valued at $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the sale, the executive vice president directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $952.52 on Monday. The firm's 50-day moving average is $983.34 and its 200-day moving average is $984.69. Costco Wholesale Corporation has a 52-week low of $793.00 and a 52-week high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The company has a market cap of $422.42 billion, a price-to-earnings ratio of 54.03, a PEG ratio of 5.92 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) 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 company had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the previous year, the firm posted $3.78 EPS. The business's revenue was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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 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 dividend yield of 0.5%. Costco Wholesale's payout ratio is presently 29.50%.

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.

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