Skandinaviska Enskilda Banken AB publ Decreases Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stake in Costco Wholesale by 4.4%, selling 675 shares and holding 14,588 shares worth approximately $13.79 million at the end of the quarter.
• Costco Wholesale reported an earnings per share of $4.28 for the last quarter, exceeding analysts' expectations and reflecting an 8% year-over-year revenue increase.
• The company announced a quarterly dividend of $1.30 per share, with an annualized dividend yield of 0.56%, scheduled for payment on August 15th.

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,588 shares of the retailer's stock after selling 675 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Costco Wholesale were worth $13,792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in COST. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $25,000. Aspect Partners LLC increased its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $58,000. Mascagni Wealth Management Inc. bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $59,000. Finally, Bank & Trust Co increased its position in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COST has been the topic of a number of recent research reports. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Morgan Stanley increased their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Loop Capital cut 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. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Mizuho started coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target for the company. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,037.48.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock traded down $4.76 during trading hours on Wednesday, reaching $929.81. 460,443 shares of the stock traded hands, compared to its average volume of 2,201,155. The company has a 50 day moving average price of $987.99 and a 200 day moving average price of $983.87. The firm has a market capitalization of $412.35 billion, a price-to-earnings ratio of 52.73, a P/E/G ratio of 5.81 and a beta of 0.97. Costco Wholesale Corporation has a one year low of $793.00 and a one year 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.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same period in the previous year, the company posted $3.78 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.56%. Costco Wholesale's payout ratio is currently 29.50%.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was 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 in the company, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock valued at $9,472,510 in the last 90 days. Corporate insiders own 0.18% of the company's stock.

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.