Costco Wholesale Corporation (NASDAQ:COST) Shares Purchased by McClarren Financial Advisors Inc.

Key Points

• McClarren Financial Advisors Inc. significantly increased its stake in Costco, up by 8,200.0% to 1,909 shares, valuing its investment at approximately $1.81 million.
• Costco saw a quarterly net margin of 2.92% and reported earnings of $4.28 per share, exceeding analysts' expectations of $4.24.
• Institutional investors own 68.48% of Costco's stock, highlighting strong institutional confidence in the retailer amidst various recent holdings adjustments.

McClarren Financial Advisors Inc. raised its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8,200.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,909 shares of the retailer's stock after buying an additional 1,886 shares during the quarter. Costco Wholesale comprises approximately 1.2% of McClarren Financial Advisors Inc.'s portfolio, making the stock its 18th biggest position. McClarren Financial Advisors Inc.'s holdings in Costco Wholesale were worth $1,805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COST. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale in the 4th quarter worth about $25,000. Aspect Partners LLC increased its holdings in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in Costco Wholesale in the 4th quarter worth about $58,000. Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale in the 4th quarter worth about $59,000. Finally, Bank & Trust Co increased its holdings in 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 buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Insider Buying and Selling

In related 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 value of $2,028,300.00. Following the completion of the sale, the executive vice president directly owned 8,210 shares of the company's stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares of the company's stock, valued at approximately $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. In 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Evercore ISI lowered their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research report on Thursday, May 29th. Morgan Stanley raised their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Truist Financial raised their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Ten equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,037.48.

Costco Wholesale Trading Down 1.2%

Shares of COST stock traded down $11.74 on Tuesday, hitting $943.63. The stock had a trading volume of 2,459,845 shares, compared to its average volume of 2,193,872. The company's 50 day moving average price is $982.28 and its 200-day moving average price is $984.78. The firm has a market capitalization of $418.48 billion, a P/E ratio of 53.52, a P/E/G ratio of 5.94 and a beta of 0.96. Costco Wholesale Corporation has a 1 year low of $805.06 and a 1 year high of $1,078.23. 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 (NASDAQ:COST - Get Free Report) last issued its 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. The business had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.78 EPS. Analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business 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 dividend yield of 0.6%. The ex-dividend date is Friday, August 1st. Costco Wholesale's payout ratio is currently 29.50%.

Costco Wholesale Company 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.