Garner Asset Management Corp Reduces Position in Costco Wholesale Corporation (NASDAQ:COST)

Garner Asset Management Corp lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 11.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,049 shares of the retailer's stock after selling 543 shares during the quarter. Costco Wholesale makes up 1.7% of Garner Asset Management Corp's portfolio, making the stock its 12th largest holding. Garner Asset Management Corp's holdings in Costco Wholesale were worth $3,830,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of COST. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale in the 4th quarter worth $25,000. Aspect Partners LLC lifted its stake in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in Costco Wholesale in the 4th quarter worth $58,000. Mascagni Wealth Management Inc. purchased a new stake in Costco Wholesale in the 4th quarter worth $59,000. Finally, Bank & Trust Co lifted its stake in Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analyst Ratings Changes

COST has been the topic of several recent research reports. Truist Financial upped their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Loop Capital cut their price target on shares of 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. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,037.48.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST traded down $6.85 on Thursday, hitting $934.35. 1,316,464 shares of the company were exchanged, compared to its average volume of 2,213,216. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.23. The stock's 50 day moving average price is $995.38 and its 200 day moving average price is $983.27. 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 market capitalization of $414.36 billion, a P/E ratio of 53.00, a price-to-earnings-growth ratio of 5.85 and a beta of 0.97.

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 the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.78 earnings per share. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction dated Friday, June 6th. The stock was 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 owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,547 shares of company stock valued at $9,472,510. Company insiders own 0.18% of the company's stock.

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.