Motley Fool Asset Management LLC Sells 673 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Motley Fool Asset Management LLC has reduced its stakes in Costco Wholesale Corporation by 1.7%, now holding approximately $37.53 million worth of shares.
• Costco reported a net revenue of $63.21 billion for the last quarter, surpassing analysts' expectations, alongside an earnings per share (EPS) of $4.28.
• The company will pay a quarterly dividend of $1.30 per share on August 15, representing an annualized yield of 0.5% and a payout ratio of 29.50%.

Motley Fool Asset Management LLC cut its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,676 shares of the retailer's stock after selling 673 shares during the period. Costco Wholesale makes up 2.1% of Motley Fool Asset Management LLC's investment portfolio, making the stock its 11th biggest holding. Motley Fool Asset Management LLC's holdings in Costco Wholesale were worth $37,525,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of COST. Investment Management Corp VA ADV acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $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 purchasing an additional 11 shares in the last quarter. Capital A Wealth Management LLC acquired a new position in Costco Wholesale in the fourth quarter worth about $58,000. Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale during the fourth quarter worth about $59,000. Finally, Bank & Trust Co grew its stake in Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after buying an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Trading Up 0.3%

Shares of NASDAQ COST traded up $2.51 during midday trading on Tuesday, reaching $991.25. 1,587,474 shares of the stock were exchanged, compared to its average volume of 2,215,102. The company has a market capitalization of $439.60 billion, a price-to-earnings ratio of 56.23, a P/E/G ratio of 6.15 and a beta of 0.96. 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 Corporation has a 12 month low of $856.16 and a 12 month high of $1,078.23. The business has a 50-day simple moving average of $975.28 and a two-hundred day simple moving average of $985.81.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The firm had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.78 EPS. As a group, equities research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Insider Activity at Costco Wholesale

In related news, EVP Patrick J. Callans sold 3,000 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's 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 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. Insiders 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 company insiders.

Analyst Ratings Changes

COST has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research note on Monday, August 4th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research note on Thursday, May 29th. Erste Group Bank cut shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, Loop Capital decreased their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.