Costco Wholesale Corporation (NASDAQ:COST) Shares Bought by Howland Capital Management LLC

Key Points

• Howland Capital Management LLC increased its stake in Costco by 6.9% in Q1, owning 9,904 shares valued at approximately $9.37 million.
• Costco recently reported $4.28 EPS for the quarter, surpassing estimates, with revenue of $63.21 billion, an increase of 8.0% year-over-year.
• The company announced a quarterly dividend of $1.30 per share, which will be paid on August 15th, representing an annual yield of 0.6%.

Howland Capital Management LLC raised its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,904 shares of the retailer's stock after purchasing an additional 638 shares during the quarter. Howland Capital Management LLC's holdings in Costco Wholesale were worth $9,367,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $25,000. Aspect Partners LLC boosted its position in Costco Wholesale by 24.4% during the first 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 position in Costco Wholesale during the fourth quarter worth approximately $58,000. Mascagni Wealth Management Inc. purchased a new position in Costco Wholesale during the fourth quarter worth approximately $59,000. Finally, Bank & Trust Co boosted its position in Costco Wholesale by 20.4% during the first 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.

Costco Wholesale Price Performance

Shares of NASDAQ:COST traded down $1.18 during midday trading on Monday, hitting $951.34. The company had a trading volume of 956,788 shares, compared to its average volume of 2,208,399. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The stock has a market cap of $421.90 billion, a price-to-earnings ratio of 53.97, a price-to-earnings-growth ratio of 5.92 and a beta of 0.96. The business's 50-day simple moving average is $983.34 and its 200-day simple moving average is $984.69.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly 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 return on equity of 30.48% and a net margin of 2.92%. The firm had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter last year, the firm earned $3.78 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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 issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Loop Capital lowered their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Mizuho assumed coverage on Costco Wholesale in a research report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target on the stock. Evercore ISI lowered their price target on 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. Finally, Morgan Stanley increased their price target on 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. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,037.48.

Insider Buying and Selling

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares of the company's stock, 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the firm's 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 sale, the executive vice president directly 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. Insiders sold a total of 9,547 shares of company stock worth $9,472,510 in the last three months. 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.