Envestnet Portfolio Solutions Inc. Sells 5,758 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Envestnet Portfolio Solutions Inc. decreased its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 17.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,111 shares of the retailer's stock after selling 5,758 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Costco Wholesale were worth $25,641,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of COST. GAMMA Investing LLC increased its position in shares of Costco Wholesale by 106,402.1% in the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after purchasing an additional 8,152,528 shares during the period. Norges Bank bought a new stake in Costco Wholesale during the fourth quarter worth about $5,182,316,000. Proficio Capital Partners LLC grew its stake in Costco Wholesale by 74,796.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer's stock worth $1,394,465,000 after buying an additional 1,519,861 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new position in Costco Wholesale in the 4th quarter valued at about $95,452,000. Finally, Northern Trust Corp increased its holdings in Costco Wholesale by 12.6% in the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock valued at $4,817,573,000 after buying an additional 587,303 shares during the period. Institutional investors own 68.48% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a report on Thursday, May 29th. Loop Capital lowered their price objective 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. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Costco Wholesale in a report on Friday, March 7th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Tuesday, June 3rd. Finally, Truist Financial boosted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Costco Wholesale currently has an average rating of "Moderate Buy" and a consensus price target of $1,034.79.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Gary Millerchip sold 1,100 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $940.01, for a total value of $1,034,011.00. Following the sale, the executive vice president now owns 11,165 shares in the company, valued at $10,495,211.65. This represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Pierre Riel sold 2,000 shares of the firm'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 transaction, the executive vice president now directly owns 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. Over the last ninety days, insiders sold 11,000 shares of company stock valued at $10,825,205. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

NASDAQ COST opened at $974.90 on Thursday. The company has a market capitalization of $432.35 billion, a price-to-earnings ratio of 55.30, a PEG ratio of 5.77 and a beta of 1.00. 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 twelve month low of $793.00 and a twelve month high of $1,078.24. The stock has a fifty day simple moving average of $1,002.39 and a 200 day simple moving average of $981.12.

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 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 during the quarter, compared to analysts' expectations of $62.93 billion. During the same period in the prior year, the company posted $3.78 earnings per share. Costco Wholesale's revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $1.30 per share. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 annualized dividend and a dividend yield of 0.53%. Costco Wholesale's dividend payout ratio (DPR) 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.

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