Northwest & Ethical Investments L.P. Trims Stock Holdings in Costco Wholesale Corporation $COST

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Costco Wholesale by 25.9%, selling 3,463 shares, leaving them with 9,911 shares valued at approximately $9.37 million.
• Costco's recent earnings report showed $4.28 earnings per share, exceeding estimates and reflecting an 8% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $1.30 per share, representing a 0.5% yield and a payout ratio of 29.50%.

Northwest & Ethical Investments L.P. lowered its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 25.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,911 shares of the retailer's stock after selling 3,463 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Costco Wholesale were worth $9,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale in the fourth quarter worth $25,000. Aspect Partners LLC increased its position in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in Costco Wholesale during the fourth quarter valued at $58,000. Mascagni Wealth Management Inc. purchased a new stake in Costco Wholesale during the fourth quarter valued at $59,000. Finally, Bank & Trust Co increased its position in Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Price Performance

Shares of NASDAQ COST traded up $13.3470 during mid-day trading on Wednesday, reaching $994.1970. The company's stock had a trading volume of 1,444,387 shares, compared to its average volume of 2,202,402. The firm has a market capitalization of $440.91 billion, a PE ratio of 56.48, a P/E/G ratio of 6.09 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. The stock has a fifty day moving average of $971.19 and a two-hundred day moving average of $986.09. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23.

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

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio is presently 29.50%.

Analyst Ratings Changes

COST has been the subject of several recent research reports. Morgan Stanley boosted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Truist Financial boosted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a report on Thursday, May 29th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Loop Capital cut their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Insiders Place Their Bets

In other news, Director Susan L. Decker sold 547 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the transaction, the executive vice president owned 58,543 shares in the company, valued at $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,547 shares of company stock valued at $9,472,510. Corporate insiders own 0.18% of the company's stock.

About Costco Wholesale

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.