Levin Capital Strategies L.P. Has $1.43 Million Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Levin Capital Strategies L.P. reduced its holdings in Costco Wholesale Corporation by 21.9%, owning 1,513 shares valued at approximately $1.43 million after selling 425 shares in the first quarter.
• Costco reported quarterly earnings of $4.28 per share, surpassing analysts' estimates, and total revenue of $63.21 billion, marking an 8.0% increase year-over-year.
• The company announced a quarterly dividend of $1.30 per share, equating to an annualized yield of 0.5%, with the ex-dividend date set for August 1st.

Levin Capital Strategies L.P. cut its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 21.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,513 shares of the retailer's stock after selling 425 shares during the period. Levin Capital Strategies L.P.'s holdings in Costco Wholesale were worth $1,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COST. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $25,000. Aspect Partners LLC increased its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $58,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $59,000. Finally, Bank & Trust Co increased its position in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Trading Up 0.3%

Shares of Costco Wholesale stock opened at $955.37 on Tuesday. The company has a market capitalization of $423.68 billion, a price-to-earnings ratio of 54.19, a PEG ratio of 5.92 and a beta of 0.96. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.23. The firm's 50-day moving average price is $982.28 and its two-hundred day moving average price is $984.78.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $63.21 billion for 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 business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.78 earnings per share. On average, analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, August 1st. Costco Wholesale's dividend payout ratio is presently 29.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Monday. Truist Financial raised 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 note on Friday, May 30th. Morgan Stanley raised their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Loop Capital cut 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 research note on Thursday, May 29th. Finally, Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,037.48.

Insider Activity

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the business'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. The trade was a 19.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 547 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director directly owned 11,531 shares of the company's stock, valued at approximately $11,300,380. The trade was a 4.53% 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. 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.

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