EverSource Wealth Advisors LLC Has $5.72 Million Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• EverSource Wealth Advisors LLC has reduced its stake in Costco Wholesale by 43.6%, resulting in ownership of 6,051 shares worth $5.72 million as reported in their latest SEC filing.
• Costco reported earnings of $4.28 per share for its last quarter, surpassing analyst expectations of $4.24, and showcased an 8% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.30 per share, payable on August 15, with an annualized dividend yield of 0.5%.

EverSource Wealth Advisors LLC lessened its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,051 shares of the retailer's stock after selling 4,675 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Costco Wholesale were worth $5,723,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in COST. Brighton Jones LLC boosted its holdings in Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after purchasing an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after purchasing an additional 130 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Costco Wholesale by 45.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after purchasing an additional 36,384 shares in the last quarter. Highview Capital Management LLC DE boosted its holdings in Costco Wholesale by 0.8% in the fourth quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock worth $4,410,000 after purchasing an additional 40 shares in the last quarter. Finally, Hudson Value Partners LLC boosted its holdings in Costco Wholesale by 5.7% in the fourth quarter. Hudson Value Partners LLC now owns 8,501 shares of the retailer's stock worth $7,789,000 after purchasing an additional 455 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Stock Down 0.3%

COST traded down $3.35 during trading on Friday, reaching $972.04. The company had a trading volume of 1,637,627 shares, compared to its average volume of 2,147,194. 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 12 month low of $867.16 and a 12 month high of $1,078.23. The business's fifty day moving average price is $972.25 and its 200 day moving average price is $986.08. The company has a market cap of $431.08 billion, a P/E ratio of 55.14, a PEG ratio of 6.04 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the previous year, the firm posted $3.78 earnings per share. The business's revenue was up 8.0% on a year-over-year basis. Equities analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Insider Activity

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction on 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 sale, the executive vice president directly owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This represents a 19.59% 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, Director Susan L. Decker sold 547 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director directly owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,547 shares of company stock valued at $9,472,510. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on COST. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Truist Financial raised their price objective 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. Loop Capital reduced 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 report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,050.00.

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.