Marietta Investment Partners LLC Takes $557,000 Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Marietta Investment Partners LLC has acquired a new stake in Costco Wholesale Corporation valued at approximately $557,000, purchasing 589 shares during the first quarter.
• Costco reported solid financial results, with an EPS of $4.28, surpassing estimates, and a revenue of $63.21 billion, reflecting an 8.0% year-over-year increase.
• The company has announced a quarterly dividend of $1.30 per share, with an annualized dividend yield of 0.56%, indicating a sustainable payout ratio of 29.50%.

Marietta Investment Partners LLC purchased a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 589 shares of the retailer's stock, valued at approximately $557,000.

A number of other institutional investors have also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale during the 4th quarter worth about $25,000. Aspect Partners LLC increased its holdings in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares during the period. Capital A Wealth Management LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth $58,000. Mascagni Wealth Management Inc. bought a new position in shares of Costco Wholesale in the fourth quarter worth $59,000. Finally, Bank & Trust Co increased its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Price Performance

Shares of COST stock opened at $935.48 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The stock has a market cap of $414.87 billion, a price-to-earnings ratio of 53.06, a PEG ratio of 5.81 and a beta of 0.97. The business's fifty day moving average is $992.04 and its 200 day moving average is $983.45. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. The firm had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.78 EPS. Research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $1.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. Costco Wholesale's payout ratio is 29.50%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COST. 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 report on Thursday, May 29th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Thursday, July 10th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Cfra Research raised Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Finally, Truist Financial raised their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Costco Wholesale has an average rating of "Moderate Buy" and an average price target of $1,037.48.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This trade represents a 4.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director owned 11,531 shares of the company's stock, valued at $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,472,510 in the last quarter. 0.18% of the stock is owned by 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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