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Mizuho Securities USA LLC Sells 6,450 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Costco Wholesale logo with Retail/Wholesale background

Key Points

  • Mizuho Securities USA LLC has reduced its stake in Costco by 15.4%, owning 35,543 shares valued at approximately $33.6 million, making it the 20th largest position in their portfolio.
  • Costco's quarterly earnings of $4.28 per share exceeded analyst expectations, with revenues reported at $63.21 billion, indicating an 8.0% year-over-year increase.
  • The company has announced a quarterly dividend of $1.30 per share to be paid on August 15th, with a yield of 0.5% and a payout ratio of 29.50%.
  • Want stock alerts on Costco Wholesale? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Mizuho Securities USA LLC lessened its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 15.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,543 shares of the retailer's stock after selling 6,450 shares during the quarter. Costco Wholesale accounts for about 0.7% of Mizuho Securities USA LLC's investment portfolio, making the stock its 20th biggest holding. Mizuho Securities USA LLC's holdings in Costco Wholesale were worth $33,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Pandora Wealth Inc. acquired a new position in shares of Costco Wholesale in the first quarter valued at approximately $189,000. Fiduciary Family Office LLC acquired a new position in Costco Wholesale during the first quarter worth $1,814,000. Manhattan West Asset Management LLC boosted its holdings in Costco Wholesale by 8.3% during the first quarter. Manhattan West Asset Management LLC now owns 5,435 shares of the retailer's stock worth $5,141,000 after purchasing an additional 417 shares during the last quarter. Covestor Ltd boosted its holdings in Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after purchasing an additional 10 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in Costco Wholesale by 0.8% during the first quarter. Frank Rimerman Advisors LLC now owns 7,752 shares of the retailer's stock worth $7,332,000 after purchasing an additional 62 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Price Performance

Shares of COST traded up $3.53 during mid-day trading on Friday, reaching $980.98. The company had a trading volume of 2,188,224 shares, compared to its average volume of 2,172,175. The company's 50 day simple moving average is $977.93 and its 200 day simple moving average is $985.13. Costco Wholesale Corporation has a 1-year low of $837.63 and a 1-year high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The company has a market capitalization of $435.05 billion, a price-to-earnings ratio of 55.64, a P/E/G ratio of 6.10 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share 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 company had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same period last year, the company posted $3.78 EPS. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. Analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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

Insider Activity at Costco Wholesale

In other news, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 58,543 shares in the company, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their position. 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 the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,547 shares of company stock valued at $9,472,510. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COST has been the subject of several recent research reports. Evercore ISI reduced their target price on shares of 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. Erste Group Bank cut shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,050.00.

View Our Latest Stock Analysis on COST

Costco Wholesale Profile

(Free Report)

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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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