Fairfield Financial Advisors LTD Has $6.53 Million Stake in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Fairfield Financial Advisors LTD increased its holdings in Costco Wholesale by 9.1%, owning 6,902 shares valued at approximately $6.53 million, making it the firm's 14th largest holding.
• Insider executives at Costco, including EVP Patrick J. Callans and Pierre Riel, sold a significant number of shares recently, with Callans selling 3,000 shares for over $3 million.
• Costco's stock received a shift in analyst outlook, with Wall Street Zen upgrading it from a "hold" to a "buy" rating, and a consensus target price now at $1,037.48.

Fairfield Financial Advisors LTD boosted its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 9.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,902 shares of the retailer's stock after acquiring an additional 575 shares during the period. Costco Wholesale accounts for about 2.5% of Fairfield Financial Advisors LTD's portfolio, making the stock its 14th largest holding. Fairfield Financial Advisors LTD's holdings in Costco Wholesale were worth $6,528,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in COST. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at $25,000. Aspect Partners LLC raised 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 acquiring an additional 11 shares in the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at $58,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at $59,000. Finally, Bank & Trust Co raised its stake in shares of Costco Wholesale by 20.4% in 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. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on COST shares. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Monday. Truist Financial increased their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Evercore ISI reduced their price objective 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. Loop Capital dropped their target price on 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. Finally, Mizuho started coverage on Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,037.48.

Costco Wholesale Trading Up 0.3%

Shares of NASDAQ COST traded up $2.85 during trading on Monday, hitting $955.37. 2,388,420 shares of the company traded hands, compared to its average volume of 2,166,006. Costco Wholesale Corporation has a 1 year low of $793.00 and a 1 year high of $1,078.23. The company has a 50-day moving average price of $983.34 and a 200-day moving average price of $984.69. The firm has a market capitalization of $423.69 billion, a P/E ratio of 54.19, a P/E/G ratio of 5.92 and a beta of 0.96. 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 (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, topping 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 during the quarter, compared to analysts' expectations of $62.93 billion. During the same period in the prior year, the company earned $3.78 EPS. The firm's revenue was up 8.0% on a year-over-year basis. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the transaction, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was 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 owned 58,543 shares of the company's stock, valued at $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock worth $9,472,510 in the last quarter. Company insiders own 0.18% of the company's stock.

About Costco Wholesale

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.