SoundView Advisors Inc. Sells 2,441 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• SoundView Advisors Inc. reduced its holdings in Costco by 41.1%, selling 2,441 shares in the first quarter, leaving them with 3,495 shares valued at approximately $3.3 million.
• Insider trading activity includes Costco’s EVP Patrick J. Callans selling 3,000 shares for over $3 million, reflecting a 4.87% decrease in his holdings.
• Costco recently announced a quarterly dividend of $1.30 per share, with an annualized yield of 0.6%, payable on August 15th to investors of record.

SoundView Advisors Inc. trimmed its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 41.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,495 shares of the retailer's stock after selling 2,441 shares during the quarter. Costco Wholesale makes up about 1.4% of SoundView Advisors Inc.'s investment portfolio, making the stock its 12th largest holding. SoundView Advisors Inc.'s holdings in Costco Wholesale were worth $3,305,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new stake in Costco Wholesale during the 4th quarter valued at approximately $25,000. Aspect Partners LLC grew its stake 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 acquiring an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new position in Costco Wholesale during the fourth quarter worth $58,000. Mascagni Wealth Management Inc. acquired a new position in Costco Wholesale during the 4th quarter valued at $59,000. Finally, Bank & Trust Co boosted its holdings in Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after purchasing an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction 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 sale, the executive vice president directly owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 in the last 90 days. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

Shares of NASDAQ COST traded up $8.89 during trading on Thursday, reaching $977.45. The company had a trading volume of 1,889,814 shares, compared to its average volume of 2,222,700. Costco Wholesale Corporation has a 52 week low of $820.45 and a 52 week high of $1,078.23. The business's 50 day moving average price is $979.28 and its 200-day moving average price is $984.62. The stock has a market cap of $433.48 billion, a PE ratio of 55.44, a PEG ratio of 6.02 and a beta of 0.96. 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 released its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping 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 company had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the previous year, the company posted $3.78 earnings per share. The firm's quarterly revenue was up 8.0% on a year-over-year basis. Analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's payout ratio is currently 29.50%.

Analysts Set New Price Targets

COST has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research report on Thursday. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a report on Thursday, May 29th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Monday. Truist Financial upped their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Finally, Mizuho assumed coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They set a "neutral" rating and a $975.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,040.81.

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.