Kestra Advisory Services LLC Lowers Stock Position in Costco Wholesale Corporation $COST

Key Points

• Kestra Advisory Services LLC has decreased its stake in Costco Wholesale Corporation by 4.2%, now holding 71,722 shares valued at approximately $67.83 million.
• Costco reported earnings per share (EPS) of $4.28, surpassing estimates, alongside a quarterly revenue of $63.21 billion, reflecting an 8% year-over-year increase.
• The company announced a quarterly dividend of $1.30 per share, representing an annualized yield of 0.5% with a payout ratio of 29.50%.

Kestra Advisory Services LLC lowered its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,722 shares of the retailer's stock after selling 3,142 shares during the period. Kestra Advisory Services LLC's holdings in Costco Wholesale were worth $67,833,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bosun Asset Management LLC boosted its holdings in Costco Wholesale by 1.6% in the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock worth $583,000 after purchasing an additional 10 shares during the period. Corps Capital Advisors LLC boosted its position in shares of Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after buying an additional 10 shares during the period. Covestor Ltd grew its stake in shares of Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after purchasing an additional 10 shares in the last quarter. Rooted Wealth Advisors Inc. increased its stake in Costco Wholesale by 2.6% during the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock valued at $404,000 after buying an additional 11 shares during the period. Finally, Bank & Trust Co raised its holdings 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. Institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research report on Thursday, May 29th. Evercore ISI cut their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. 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 Monday, August 4th. Finally, Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $969.68 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The firm has a market cap of $430.03 billion, a P/E ratio of 55.00, a P/E/G ratio of 6.18 and a beta of 0.96. The firm has a 50 day simple moving average of $970.48 and a 200 day simple moving average of $985.89.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter in the previous year, the company earned $3.78 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Insider Buying and Selling at Costco Wholesale

In related news, Director Susan L. Decker sold 547 shares of Costco Wholesale 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,547 shares of company stock worth $9,472,510. Company 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.

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