Texas Capital Bank Wealth Management Services Inc Reduces Stock Position in Costco Wholesale Corporation $COST

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Texas Capital Bank Wealth Management Services Inc lessened its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,238 shares of the retailer's stock after selling 1,279 shares during the quarter. Costco Wholesale accounts for 1.0% of Texas Capital Bank Wealth Management Services Inc's portfolio, making the stock its 19th largest position. Texas Capital Bank Wealth Management Services Inc's holdings in Costco Wholesale were worth $9,683,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bosun Asset Management LLC boosted its stake in shares of Costco Wholesale by 1.6% in the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock worth $583,000 after buying an additional 10 shares during the last quarter. Corps Capital Advisors LLC boosted its stake in shares of Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after buying an additional 10 shares during the last quarter. Covestor Ltd boosted its stake in shares of Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock worth $119,000 after buying an additional 10 shares during the last quarter. Coppell Advisory Solutions LLC boosted its stake in shares of Costco Wholesale by 0.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock worth $3,163,000 after buying an additional 11 shares during the last quarter. Finally, Rooted Wealth Advisors Inc. boosted its stake in shares of Costco Wholesale by 2.6% in the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock worth $404,000 after buying an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Up 0.8%

NASDAQ:COST opened at $979.35 on Tuesday. The firm has a market cap of $434.32 billion, a PE ratio of 55.55, a price-to-earnings-growth ratio of 6.04 and a beta of 0.96. The stock has a fifty day moving average price of $971.72 and a 200 day moving average price of $986.12. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its 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. The firm had revenue of $63.21 billion during 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 was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $3.78 earnings per share. Sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insiders Place Their Bets

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction 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 sale, the executive vice president directly owned 8,210 shares in the company, valued at $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This 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 valued at $9,472,510 in the last three months. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Monday, August 4th. Morgan Stanley increased their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Loop Capital lowered their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research report on Thursday, May 29th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

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.

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.