LGT Fund Management Co Ltd. Sells 954 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• LGT Fund Management Co Ltd. has reduced its holdings in Costco Wholesale by 28.8%, now owning 2,355 shares worth approximately $2.23 million.
• Costco reported an earnings per share (EPS) of $4.28 for the last quarter, exceeding analyst expectations, along with an 8.0% year-over-year revenue increase.
• The company announced a quarterly dividend of $1.30 per share, with a payout ratio of 29.50% and an annualized yield of 0.5%.

LGT Fund Management Co Ltd. cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 28.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,355 shares of the retailer's stock after selling 954 shares during the period. LGT Fund Management Co Ltd.'s holdings in Costco Wholesale were worth $2,227,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale in the 4th quarter worth approximately $25,000. Aspect Partners LLC boosted its position in shares of 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 in the last quarter. Capital A Wealth Management LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $58,000. Mascagni Wealth Management Inc. bought a new position in Costco Wholesale in the fourth quarter worth $59,000. Finally, Bank & Trust Co raised its holdings in Costco Wholesale by 20.4% in 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. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Costco Wholesale

In other news, Director Susan L. Decker sold 547 shares of the stock in a transaction on 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 directly owned 11,531 shares of the company's stock, valued at $11,300,380. This represents a 4.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president directly owned 58,543 shares of the company's stock, valued at $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock valued at $9,472,510 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Performance

NASDAQ COST traded up $2.51 during trading hours on Tuesday, hitting $991.25. The company's stock had a trading volume of 1,587,474 shares, compared to its average volume of 2,215,102. Costco Wholesale Corporation has a 12 month low of $856.16 and a 12 month high of $1,078.23. The company's 50 day simple moving average is $975.28 and its two-hundred day simple moving average is $985.81. 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 company has a market cap of $439.60 billion, a P/E ratio of 56.23, a price-to-earnings-growth ratio of 6.15 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 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 during the quarter, compared to analyst estimates of $62.93 billion. During the same period in the previous year, the business posted $3.78 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale's payout ratio is currently 29.50%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. 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 report on Tuesday, June 17th. Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research note on Monday, August 4th. Truist Financial upped their price objective 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. 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. Finally, Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

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.