Rafferty Asset Management LLC Has $42.48 Million Stake in Costco Wholesale Corporation $COST

Key Points

• Rafferty Asset Management LLC has reduced its stake in Costco Wholesale Corporation by 14.2%, bringing its holdings to approximately $42.48 million after selling 7,438 shares in the first quarter.
• Costco reported a quarterly earnings per share (EPS) of $4.28, exceeding estimates and reflecting an 8.0% year-over-year revenue increase to $63.21 billion.
• The company recently declared a quarterly dividend of $1.30, equivalent to a $5.20 annual dividend, with a payout ratio of 29.50% and a yield of 0.6%.

Rafferty Asset Management LLC decreased its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,910 shares of the retailer's stock after selling 7,438 shares during the quarter. Rafferty Asset Management LLC's holdings in Costco Wholesale were worth $42,475,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of COST. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale in the 4th quarter worth about $25,000. Aspect Partners LLC boosted its stake in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in Costco Wholesale during the 4th quarter valued at about $58,000. Mascagni Wealth Management Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co boosted its stake in shares of Costco Wholesale by 20.4% in the 1st 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 owned by institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale 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 $58,705,164.11. This trade represents a 4.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the transaction, the executive vice president directly owned 8,210 shares of the company's stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,147 shares of company stock worth $10,067,740 in the last 90 days. 0.18% of the stock is owned by company insiders.

Costco Wholesale Trading Down 1.8%

NASDAQ:COST opened at $941.58 on Tuesday. The company's 50 day moving average price is $968.99 and its 200-day moving average price is $983.88. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The stock has a market cap of $417.57 billion, a price-to-earnings ratio of 53.41, a PEG ratio of 5.96 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (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 quarter last year, the company posted $3.78 earnings per share. The firm's quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale's payout ratio is currently 29.50%.

Analyst Ratings Changes

A number of equities research analysts recently commented on COST shares. Truist Financial lifted their price target 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. Loop Capital lowered their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,050.00.

Costco Wholesale Company 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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