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Drive Wealth Management LLC Buys 1,213 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Costco Wholesale logo with Retail/Wholesale background

Key Points

  • Drive Wealth Management LLC increased its stake in Costco Wholesale by 91.2% during the first quarter, resulting in holdings worth approximately $2.41 million.
  • Costco reported an EPS of $4.28 for the latest quarter, surpassing estimates, and achieved a revenue of $63.21 billion, a growth of 8% compared to the same period last year.
  • The company announced a quarterly dividend of $1.30, scheduled to be paid on August 15th, with a current yield of 0.56% and a payout ratio of 29.50%.
  • Five stocks we like better than Costco Wholesale.

Drive Wealth Management LLC increased its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 91.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,543 shares of the retailer's stock after buying an additional 1,213 shares during the quarter. Drive Wealth Management LLC's holdings in Costco Wholesale were worth $2,405,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new position in shares of Costco Wholesale in the fourth quarter worth $25,000. Aspect Partners LLC lifted its stake in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares during the period. Capital A Wealth Management LLC bought a new stake in shares of Costco Wholesale in the fourth quarter valued at about $58,000. Mascagni Wealth Management Inc. bought a new position in Costco Wholesale during the fourth quarter worth about $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 period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 0.3%

Shares of NASDAQ COST traded down $2.56 during mid-day trading on Monday, reaching $932.93. 738,025 shares of the company's stock traded hands, compared to its average volume of 2,205,599. 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 Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.23. The stock has a market cap of $413.73 billion, a P/E ratio of 53.03, a PEG ratio of 5.82 and a beta of 0.97. The business has a 50-day simple moving average of $992.04 and a 200 day simple moving average of $984.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same period in the previous year, the business earned $3.78 EPS. Costco Wholesale's revenue was up 8.0% compared to the same quarter last year. On average, analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Insider Activity

In related news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the transaction, the executive vice president directly owned 8,210 shares of the company's stock, valued at $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 11,531 shares of the company's stock, valued at $11,300,380. This represents a 4.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,547 shares of company stock valued at $9,472,510. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on COST shares. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Truist Financial boosted their price target 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. Morgan Stanley boosted their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, July 10th. 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 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 stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,037.48.

Get Our Latest Stock Analysis on COST

Costco Wholesale 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)

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