First National Trust Co Sells 3,568 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• First National Trust Co reduced its stake in Costco Wholesale by 18.0%, selling 3,568 shares, which lowered its holdings to 16,278 shares valued at approximately $15.4 million.
• Costco announced a quarterly dividend of $1.30 per share, set to be paid on August 15, reflecting a 0.56% yield.
• The company's quarterly earnings report revealed earnings per share of $4.28, surpassing estimates, with total revenue of $63.21 billion.

First National Trust Co trimmed its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 18.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,278 shares of the retailer's stock after selling 3,568 shares during the period. First National Trust Co's holdings in Costco Wholesale were worth $15,395,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale in the fourth quarter valued at $25,000. Aspect Partners LLC boosted its holdings in shares of Costco Wholesale by 24.4% during 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 during the period. Capital A Wealth Management LLC bought a new stake in Costco Wholesale during the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale during the fourth quarter valued at $59,000. Finally, Bank & Trust Co raised its stake in shares of Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the transaction, the executive vice president directly owned 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director owned 11,531 shares of the company's stock, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,547 shares of company stock worth $9,472,510 in the last quarter. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock traded down $7.06 during mid-day trading on Wednesday, reaching $927.51. 1,682,635 shares of the stock were exchanged, compared to its average volume of 1,941,458. The company has a market cap of $411.33 billion, a price-to-earnings ratio of 52.61, a price-to-earnings-growth ratio of 5.81 and a beta of 0.97. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.23. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $986.03 and a 200 day simple moving average of $983.48.

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

Costco Wholesale Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday, May 29th. Loop Capital reduced their target price on 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, July 10th. Mizuho assumed coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target for the company. Finally, Morgan Stanley raised their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,037.48.

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.