Silver Coast Investments LLC Takes $261,000 Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Silver Coast Investments LLC recently acquired a position in Costco Wholesale Corporation, purchasing 276 shares valued at approximately $261,000.
• Costco reported a quarterly earnings increase with earnings per share of $4.28, exceeding estimates and witnessing an 8.0% revenue growth year-over-year.
• The company has announced a quarterly dividend of $1.30 per share, reflecting an annualized dividend yield of 0.5%, with a payout ratio currently at 29.50%.

Silver Coast Investments LLC acquired a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 276 shares of the retailer's stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COST. Investment Management Corp VA ADV bought a new stake in Costco Wholesale in the 4th quarter valued at about $25,000. Aspect Partners LLC increased its position in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in Costco Wholesale in the 4th quarter valued at about $58,000. Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale in the 4th quarter valued at about $59,000. Finally, Bank & Trust Co increased its holdings in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Up 1.4%

NASDAQ COST opened at $952.52 on Monday. 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 market capitalization of $422.42 billion, a PE ratio of 54.03, a PEG ratio of 5.92 and a beta of 0.96. Costco Wholesale Corporation has a 1 year low of $793.00 and a 1 year high of $1,078.23. The business's 50-day moving average is $983.34 and its 200 day moving average is $984.69.

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. The business had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.78 EPS. Sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of Costco Wholesale 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 directly owned 11,531 shares of the company's stock, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction that occurred 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 sale, the executive vice president directly 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. In the last 90 days, insiders sold 9,547 shares of company stock valued at $9,472,510. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

COST has been the subject of a number of recent research reports. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a report on Thursday, May 29th. Loop Capital decreased their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Evercore ISI reduced their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Finally, Truist Financial lifted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,037.48.

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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