Curi RMB Capital LLC Decreases Position in Costco Wholesale Corporation $COST

Key Points

• Curi RMB Capital LLC reduced its stake in Costco Wholesale by 22.5% during the first quarter, now holding 1,222 shares valued at approximately $1.16 million.
• Investment analysts maintain a consensus rating of "Moderate Buy" for Costco, with a current target price averaging $1,050.00.
• Costco recently declared a quarterly dividend of $1.30 per share, resulting in an annual yield of 0.5%.

Curi RMB Capital LLC lowered its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 22.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,222 shares of the retailer's stock after selling 354 shares during the quarter. Curi RMB Capital LLC's holdings in Costco Wholesale were worth $1,156,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $25,000. Aspect Partners LLC increased its holdings in shares of Costco Wholesale by 24.4% during the first 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 acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $58,000. Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $59,000. Finally, Bank & Trust Co increased its holdings in shares of Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Activity

In related news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction 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 sale, the executive vice president directly owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, 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. Over the last three months, insiders sold 8,147 shares of company stock valued at $8,039,440. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on COST shares. Loop Capital cut their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Truist Financial increased their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a report on Thursday, May 29th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,050.00.

Costco Wholesale Stock Performance

NASDAQ COST traded up $7.58 during mid-day trading on Friday, reaching $963.48. 1,926,561 shares of the stock were exchanged, compared to its average volume of 2,000,147. The business's 50 day moving average is $962.23 and its 200-day moving average is $977.09. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The company has a market capitalization of $427.28 billion, a P/E ratio of 54.65, a P/E/G ratio of 5.42 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale's dividend payout ratio is 29.50%.

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.