Steward Partners Investment Advisory LLC Has $61.58 Million Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Steward Partners Investment Advisory LLC reduced its holdings in Costco Wholesale by 1.5%, now owning 65,110 shares valued at approximately $61.58 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Costco, with an average price target of $1,050, based on recent research reports.
• Costco reported a quarterly EPS of $4.28, surpassing estimates, with 8.0% year-over-year revenue growth, totaling $63.21 billion for the quarter.

Steward Partners Investment Advisory LLC reduced its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,110 shares of the retailer's stock after selling 1,019 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Costco Wholesale were worth $61,581,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of COST. Investment Management Corp VA ADV bought a new stake in Costco Wholesale during the 4th quarter worth approximately $25,000. Aspect Partners LLC grew its position in Costco Wholesale by 24.4% during the 1st 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 stake in Costco Wholesale during the 4th quarter worth approximately $58,000. Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale during the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co lifted 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 buying an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

COST has been the topic of several research reports. Truist Financial upped their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Evercore ISI reduced their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. JPMorgan Chase & Co. upped their price objective on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, August 4th. Finally, Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and an average price target of $1,050.00.

Costco Wholesale Price Performance

COST opened at $972.04 on Friday. 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 Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23. The company has a fifty day simple moving average of $972.25 and a 200 day simple moving average of $986.08. The stock has a market cap of $431.08 billion, a P/E ratio of 55.14, a P/E/G ratio of 6.04 and a beta of 0.96.

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

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio is currently 29.50%.

Insider Activity

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction dated 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 owned 8,210 shares in the company, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Decker sold 547 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director owned 11,531 shares of the company's stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. 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 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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