NatWest Group plc Trims Position in Costco Wholesale Corporation $COST

Key Points

• NatWest Group plc reduced its stake in Costco Wholesale Corporation by 10.7%, holding a total of 13,707 shares valued at approximately $13.57 million, which represents about 4.0% of its portfolio.
• Costco reported a quarterly earnings per share (EPS) of $5.87, exceeding analysts' expectations, while its revenue rose to $86.16 billion, an increase of 8.1% compared to the same quarter last year.
• The company announced a quarterly dividend of $1.30 per share, with a payout ratio of 28.56%, highlighting its ongoing commitment to returning value to shareholders.

NatWest Group plc decreased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,707 shares of the retailer's stock after selling 1,635 shares during the quarter. Costco Wholesale accounts for approximately 4.0% of NatWest Group plc's portfolio, making the stock its 12th largest position. NatWest Group plc's holdings in Costco Wholesale were worth $13,569,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after acquiring an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after buying an additional 130 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Costco Wholesale by 12.6% during the 1st quarter. GAMMA Investing LLC now owns 8,628 shares of the retailer's stock worth $8,160,000 after acquiring an additional 966 shares during the last quarter. Omnia Family Wealth LLC raised its position in Costco Wholesale by 38.6% during the 1st quarter. Omnia Family Wealth LLC now owns 463 shares of the retailer's stock valued at $438,000 after purchasing an additional 129 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in shares of Costco Wholesale by 3.9% in the 1st quarter. Perigon Wealth Management LLC now owns 21,712 shares of the retailer's stock valued at $20,535,000 after acquiring an additional 816 shares during the period. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $932.14 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The firm has a 50-day moving average of $945.23 and a two-hundred day moving average of $971.67. The stock has a market cap of $413.11 billion, a P/E ratio of 51.19, a PEG ratio of 5.72 and a beta of 0.98. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion for the quarter, compared to analysts' expectations of $86.01 billion. During the same quarter last year, the company posted $5.15 earnings per share. The company's quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $1.30 dividend. The ex-dividend date is Friday, October 31st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is presently 28.56%.

Insider Activity

In related news, insider Tiffany Marie Barbre sold 1,239 shares of the firm's stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the transaction, the insider owned 5,155 shares of the company's stock, valued at approximately $4,817,966.10. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the transaction, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,920 shares of company stock worth $7,373,175 over the last ninety days. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings restated a "buy (b-)" rating on shares of Costco Wholesale in a research note on Friday. JPMorgan Chase & Co. cut their target price on Costco Wholesale from $1,160.00 to $1,050.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. DA Davidson reissued a "neutral" rating and set a $1,000.00 price target on shares of Costco Wholesale in a report on Friday, September 26th. The Goldman Sachs Group raised their price target on Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Finally, Truist Financial lowered their price objective on Costco Wholesale from $1,042.00 to $1,033.00 and set a "hold" rating on the stock in a report on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,068.15.

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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