Moors & Cabot Inc. Raises Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Moors & Cabot Inc. increased its investment in Costco Wholesale by 3.0% in the first quarter, owning a total of 12,588 shares worth approximately $11.9 million.
• Costco reported $4.28 EPS for its most recent quarter, surpassing analysts' expectations, with revenue rising 8.0% year-over-year to $63.21 billion.
• The company announced a quarterly dividend of $1.30 per share, with a payout ratio currently at 29.50% and a dividend yield of 0.6%.

Moors & Cabot Inc. increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,588 shares of the retailer's stock after purchasing an additional 365 shares during the quarter. Moors & Cabot Inc.'s holdings in Costco Wholesale were worth $11,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new position in Costco Wholesale during the fourth quarter valued at approximately $25,000. Aspect Partners LLC raised its position in 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 acquiring an additional 11 shares during the period. Capital A Wealth Management LLC bought a new position in Costco Wholesale in the fourth quarter worth approximately $58,000. Mascagni Wealth Management Inc. bought a new position in Costco Wholesale in the fourth quarter worth approximately $59,000. Finally, Bank & Trust Co raised its position 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 acquiring an additional 11 shares during the period. Institutional investors own 68.48% of the company's stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of Costco Wholesale 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 completion of the transaction, the director directly owned 11,531 shares of the company's stock, valued at $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president directly owned 5,774 shares of the company's stock, valued at $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. Over the last quarter, insiders sold 9,547 shares of company stock valued at $9,472,510. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on COST shares. Morgan Stanley increased their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Mizuho started coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target on the stock. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Thursday, July 10th. Finally, Truist Financial increased their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,037.48.

Costco Wholesale Price Performance

COST traded up $12.88 during trading on Friday, hitting $952.52. 2,932,630 shares of the company traded hands, compared to its average volume of 2,019,283. The company has a market cap of $422.42 billion, a PE ratio of 54.03, a P/E/G ratio of 5.84 and a beta of 0.96. The stock's 50-day simple moving average is $983.34 and its two-hundred day simple moving average is $983.82. Costco Wholesale Corporation has a 1 year low of $793.00 and a 1 year high of $1,078.23. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion during 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%. Costco Wholesale's quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company posted $3.78 earnings per share. As a group, sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm 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 $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

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.