Perissos Private Wealth Management LLC Sells 2,305 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Perissos Private Wealth Management LLC decreased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 83.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 451 shares of the retailer's stock after selling 2,305 shares during the quarter. Perissos Private Wealth Management LLC's holdings in Costco Wholesale were worth $427,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Miramar Capital LLC increased its holdings in shares of Costco Wholesale by 1.9% in the 4th quarter. Miramar Capital LLC now owns 525 shares of the retailer's stock valued at $481,000 after acquiring an additional 10 shares during the period. Clear Investment Research LLC grew its position in Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after purchasing an additional 10 shares during the last quarter. Peninsula Wealth LLC increased its stake in Costco Wholesale by 1.2% in the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock valued at $749,000 after purchasing an additional 10 shares during the period. Bosun Asset Management LLC raised its holdings in shares of Costco Wholesale by 1.6% in the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock valued at $583,000 after buying an additional 10 shares during the last quarter. Finally, Lifeworks Advisors LLC boosted its stake in shares of Costco Wholesale by 1.2% during the fourth quarter. Lifeworks Advisors LLC now owns 895 shares of the retailer's stock worth $820,000 after buying an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP James C. Klauer sold 4,000 shares of the firm's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the transaction, the executive vice president directly owned 43,994 shares of the company's stock, valued at $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Callans sold 3,000 shares of the business'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 sale, the executive vice president owned 58,543 shares in the company, valued at approximately $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. Insiders sold a total of 9,547 shares of company stock worth $9,496,950 over the last 90 days. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

Shares of NASDAQ COST traded down $3.60 during mid-day trading on Wednesday, reaching $982.36. The company had a trading volume of 1,604,953 shares, compared to its average volume of 2,075,149. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The stock has a market cap of $435.66 billion, a PE ratio of 55.72, a P/E/G ratio of 6.13 and a beta of 0.97. The company has a 50-day moving average price of $1,004.67 and a two-hundred day moving average price of $981.09.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data 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. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter last year, the company posted $3.78 EPS. The company's quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $1.30 per share. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. This represents a $5.20 annualized dividend and a yield of 0.53%. Costco Wholesale's dividend payout ratio is currently 29.50%.

Analysts Set New Price Targets

Several research firms have commented on COST. Morgan Stanley upped their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. upped their price target on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Truist Financial lifted their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research note on Thursday, May 29th. Finally, Cowen reaffirmed a "buy" rating on shares of Costco Wholesale in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,034.79.

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.