Oak Grove Capital LLC Sells 5,107 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Oak Grove Capital LLC has reduced its holdings in Costco Wholesale by 28.0%, selling 5,107 shares and now owning 13,130 shares valued at approximately $12.4 million.
• In related insider activity, EVP Pierre Riel sold 2,000 shares at an average price of $1,014.15, while Director Susan L. Decker sold 547 shares at $980.00, resulting in total insider sales of 9,547 shares worth close to $9.5 million over the last quarter.
• Costco recently announced a quarterly dividend of $1.30 per share, equating to an annualized dividend of $5.20 and a dividend yield of 0.5%, with a payout ratio of 29.50%.

Oak Grove Capital LLC cut its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 28.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,130 shares of the retailer's stock after selling 5,107 shares during the quarter. Costco Wholesale comprises 2.6% of Oak Grove Capital LLC's portfolio, making the stock its 12th largest position. Oak Grove Capital LLC's holdings in Costco Wholesale were worth $12,418,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Personal CFO Solutions LLC raised its holdings in shares of Costco Wholesale by 12.4% during the first quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after acquiring an additional 167 shares during the period. F&V Capital Management LLC acquired a new stake in shares of Costco Wholesale during the first quarter worth $236,000. Graybill Wealth Management LTD. acquired a new stake in shares of Costco Wholesale during the first quarter worth $3,095,000. Rossmore Private Capital raised its holdings in shares of Costco Wholesale by 0.9% during the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock worth $6,325,000 after acquiring an additional 62 shares during the period. Finally, Curat Global LLC acquired a new stake in shares of Costco Wholesale during the first quarter worth $241,000. 68.48% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $536,060.00. Following the sale, the director owned 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,547 shares of company stock worth $9,472,510. Insiders own 0.18% of the company's stock.

Costco Wholesale Stock Down 0.4%

Shares of COST opened at $975.39 on Friday. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23. The firm's 50 day moving average is $973.11 and its 200-day moving average is $985.83. The stock has a market capitalization of $432.57 billion, a PE ratio of 55.33, a P/E/G ratio of 6.09 and a beta of 0.96. 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 announced its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $62.93 billion. During the same period last year, the firm earned $3.78 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on COST shares. Truist Financial raised their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Loop Capital cut 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 report on Thursday, May 29th. Finally, Morgan Stanley boosted 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. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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