Heritage Wealth Advisors Has $2.35 Million Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Heritage Wealth Advisors has reduced its stake in Costco Wholesale by 17.9% during the first quarter, owning 2,483 shares valued at approximately $2.35 million as of the latest SEC filing.
• Costco's recent quarterly earnings report showed earnings per share of $4.28, surpassing analysts' expectations, with revenue increasing by 8.0% year-over-year to $63.21 billion.
• The company has declared a quarterly dividend of $1.30 per share to be paid on August 15th, reflecting an annualized dividend yield of 0.6%.

Heritage Wealth Advisors lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,483 shares of the retailer's stock after selling 542 shares during the quarter. Heritage Wealth Advisors' holdings in Costco Wholesale were worth $2,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Moors & Cabot Inc. raised its position in shares of Costco Wholesale by 3.0% in the first quarter. Moors & Cabot Inc. now owns 12,588 shares of the retailer's stock valued at $11,905,000 after purchasing an additional 365 shares during the period. Alberta Investment Management Corp raised its position in shares of Costco Wholesale by 14.8% in the first quarter. Alberta Investment Management Corp now owns 3,100 shares of the retailer's stock valued at $2,932,000 after purchasing an additional 400 shares during the period. Howland Capital Management LLC raised its position in shares of Costco Wholesale by 6.9% in the first quarter. Howland Capital Management LLC now owns 9,904 shares of the retailer's stock valued at $9,367,000 after purchasing an additional 638 shares during the period. Nicolet Advisory Services LLC raised its position in shares of Costco Wholesale by 2.2% in the first quarter. Nicolet Advisory Services LLC now owns 3,598 shares of the retailer's stock valued at $3,470,000 after purchasing an additional 76 shares during the period. Finally, Momentous Wealth Management Inc. raised its position in shares of Costco Wholesale by 16.7% in the first quarter. Momentous Wealth Management Inc. now owns 818 shares of the retailer's stock valued at $773,000 after purchasing an additional 117 shares during the period. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

COST traded up $12.88 during trading on Friday, reaching $952.52. 2,932,630 shares of the company's stock were exchanged, compared to its average volume of 2,019,283. 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 quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $983.34 and a 200 day moving average price of $983.82. The company has a market capitalization of $422.42 billion, a P/E ratio of 54.03, a PEG ratio of 5.84 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the previous year, the company earned $3.78 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.5%. Costco Wholesale's dividend payout ratio is 29.50%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on COST shares. Morgan Stanley boosted their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Evercore ISI dropped their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Finally, Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,037.48.

Insider Activity at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the company'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 transaction, the executive vice president owned 8,210 shares in the company, valued at $8,326,171.50. This represents a 19.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 547 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 in the last 90 days. Corporate 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.