Schechter Investment Advisors LLC reduced its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 21.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,122 shares of the retailer's stock after selling 1,720 shares during the quarter. Schechter Investment Advisors LLC's holdings in Costco Wholesale were worth $5,790,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Curtis Advisory Group LLC raised its holdings in shares of Costco Wholesale by 26.4% in the first quarter. Curtis Advisory Group LLC now owns 2,349 shares of the retailer's stock valued at $2,222,000 after acquiring an additional 490 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Costco Wholesale by 3.0% in the first quarter. Arizona State Retirement System now owns 132,602 shares of the retailer's stock valued at $125,412,000 after acquiring an additional 3,827 shares in the last quarter. Nikulski Financial Inc. raised its holdings in shares of Costco Wholesale by 2.1% in the first quarter. Nikulski Financial Inc. now owns 12,247 shares of the retailer's stock valued at $11,583,000 after acquiring an additional 256 shares in the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Costco Wholesale by 0.4% in the first quarter. Kathmere Capital Management LLC now owns 4,393 shares of the retailer's stock valued at $4,155,000 after acquiring an additional 16 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Costco Wholesale by 1.1% in the first quarter. Ballentine Partners LLC now owns 9,747 shares of the retailer's stock valued at $9,219,000 after acquiring an additional 102 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.
Costco Wholesale Stock Performance
NASDAQ COST traded up $0.16 during trading hours on Friday, reaching $970.33. The stock had a trading volume of 1,939,399 shares, compared to its average volume of 2,063,204. The stock has a fifty day moving average of $1,003.77 and a 200 day moving average of $982.06. The stock has a market cap of $430.32 billion, a P/E ratio of 55.04, a price-to-earnings-growth ratio of 6.04 and a beta of 0.97. Costco Wholesale Corporation has a 52-week low of $793.00 and a 52-week high of $1,078.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.
Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its 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. The firm had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. Costco Wholesale's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.78 earnings per share. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.
Costco Wholesale Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a $1.30 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a yield of 0.54%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio is currently 29.50%.
Insider Transactions at Costco Wholesale
In other Costco Wholesale news, EVP James C. Klauer sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the sale, the executive vice president owned 43,994 shares in the company, valued at approximately $43,161,193.58. This represents a 8.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the sale, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,496,950 in the last ninety days. Corporate insiders own 0.18% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on COST. Evercore ISI decreased their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Mizuho assumed coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price for the company. Truist Financial boosted their target price 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 reduced their target price on shares of 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. Finally, Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,037.48.
View Our Latest Analysis on Costco Wholesale
Costco Wholesale Profile
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Free Report)
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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