Elite Wealth Management Inc. Sells 953 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Elite Wealth Management Inc. lowered its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 15.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,290 shares of the retailer's stock after selling 953 shares during the period. Costco Wholesale accounts for approximately 0.7% of Elite Wealth Management Inc.'s investment portfolio, making the stock its 13th biggest holding. Elite Wealth Management Inc.'s holdings in Costco Wholesale were worth $5,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in COST. Personal CFO Solutions LLC boosted its holdings in shares of Costco Wholesale by 12.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock valued at $1,436,000 after purchasing an additional 167 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Costco Wholesale by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock worth $8,901,249,000 after buying an additional 252,118 shares during the period. F&V Capital Management LLC acquired a new position in Costco Wholesale during the 1st quarter worth about $236,000. Umpqua Bank lifted its holdings in Costco Wholesale by 14.7% during the 4th quarter. Umpqua Bank now owns 4,507 shares of the retailer's stock worth $4,134,000 after buying an additional 577 shares during the period. Finally, Curat Global LLC bought a new position in shares of Costco Wholesale in the 1st quarter worth about $241,000. Institutional investors own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on COST shares. Truist Financial lifted 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. Mizuho started coverage on Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price objective for the company. Evercore ISI cut their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Thursday. Finally, Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,037.48.

Costco Wholesale Stock Up 0.0%

COST opened at $970.33 on Monday. The stock has a market cap of $430.32 billion, a PE ratio of 55.04, a P/E/G ratio of 6.03 and a beta of 0.97. 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 52 week low of $793.00 and a 52 week high of $1,078.24. The business's fifty day simple moving average is $1,003.77 and its 200 day simple moving average is $982.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating 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 business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same period in the prior year, the business posted $3.78 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. As a group, research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale's dividend payout ratio is currently 29.50%.

Insider Activity

In other news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 58,543 shares in the company, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,547 shares of company stock valued at $9,496,950. Company insiders own 0.18% of the company's stock.

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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