Jefferies Financial Group Inc. Cuts Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Jefferies Financial Group Inc. trimmed its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 48.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,020 shares of the retailer's stock after selling 3,851 shares during the period. Jefferies Financial Group Inc.'s holdings in Costco Wholesale were worth $3,802,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Investment Management Corp VA ADV bought a new position in Costco Wholesale during the fourth quarter valued at $25,000. Aspect Partners LLC lifted its position in 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 purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new position in Costco Wholesale during the fourth quarter valued at $58,000. Mascagni Wealth Management Inc. bought a new position in Costco Wholesale during the fourth quarter valued at $59,000. Finally, Bank & Trust Co lifted its holdings in shares of 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 acquiring an additional 11 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $952.52 on Friday. The company's fifty day moving average price is $983.34 and its 200 day moving average price is $984.24. Costco Wholesale Corporation has a 1 year low of $793.00 and a 1 year high of $1,078.23. The company has a market capitalization of $422.42 billion, a PE ratio of 54.03, a price-to-earnings-growth ratio of 5.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

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 (EPS) 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 for the quarter, compared to the consensus estimate of $62.93 billion. During the same period in the prior year, the firm posted $3.78 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company 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 dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale's dividend payout ratio is 29.50%.

Analysts Set New Price Targets

COST has been the subject of several analyst reports. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Truist Financial raised their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Loop Capital lowered their target price on shares of 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. Finally, Morgan Stanley raised 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 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,037.48.

Insider Activity

In related news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction on Monday, June 9th. The shares were 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 directly owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $2,028,300.00. Following the sale, the executive vice president directly owned 8,210 shares in the company, valued at $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,547 shares of company stock valued at $9,472,510. 0.18% of the stock is currently owned by corporate insiders.

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.

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