TrueMark Investments LLC Sells 2,798 Shares of Costco Wholesale Corporation (NASDAQ:COST)

TrueMark Investments LLC decreased its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 92.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234 shares of the retailer's stock after selling 2,798 shares during the quarter. TrueMark Investments LLC's holdings in Costco Wholesale were worth $221,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Costco Wholesale by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer's stock worth $38,668,069,000 after purchasing an additional 455,043 shares during the period. Geode Capital Management LLC raised its position in shares of Costco Wholesale by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock worth $8,901,249,000 after purchasing an additional 252,118 shares during the period. FMR LLC raised its position in shares of Costco Wholesale by 1.6% during the fourth quarter. FMR LLC now owns 9,457,824 shares of the retailer's stock worth $8,665,921,000 after purchasing an additional 149,209 shares during the period. GAMMA Investing LLC raised its position in shares of Costco Wholesale by 106,402.1% during the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after purchasing an additional 8,152,528 shares during the period. Finally, Norges Bank acquired a new stake in shares of Costco Wholesale during the fourth quarter worth $5,182,316,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Transactions at Costco Wholesale

In other news, Director Susan L. Decker sold 547 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director now owns 11,531 shares in the company, valued at approximately $11,300,380. This represents a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $940.01, for a total value of $1,034,011.00. Following the sale, the executive vice president now owns 11,165 shares of the company's stock, valued at approximately $10,495,211.65. This trade represents a 8.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,647 shares of company stock worth $10,530,961. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COST. Barclays boosted their target price on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Morgan Stanley upped their price target on 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. Truist Financial upped their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Finally, Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,034.79.

Costco Wholesale Stock Down 1.5%

COST stock traded down $15.38 during mid-day trading on Wednesday, hitting $986.54. The stock had a trading volume of 1,824,165 shares, compared to its average volume of 2,066,879. The stock has a market capitalization of $437.51 billion, a price-to-earnings ratio of 55.96, a PEG ratio of 5.92 and a beta of 1.00. The company has a fifty day moving average of $1,004.32 and a 200 day moving average of $981.29. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. 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 quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The firm's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.78 EPS. On average, equities analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, May 2nd. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio is 29.50%.

Costco Wholesale Company 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.