UNIVEST FINANCIAL Corp Sells 2,767 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• UNIVEST FINANCIAL Corp has reduced its stake in Costco Wholesale by 13.2%, selling 2,767 shares and now holding 18,237 shares valued at approximately $17.25 million.
• Costco's recent earnings report revealed a 4.28 EPS, exceeding analysts' expectations of 4.24 EPS, and showed a 8.0% year-over-year revenue growth to $63.21 billion.
• The company announced a quarterly dividend of $1.30 per share, with an ex-dividend date set for August 1st, reflecting a 0.6% dividend yield.

UNIVEST FINANCIAL Corp decreased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 13.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,237 shares of the retailer's stock after selling 2,767 shares during the quarter. Costco Wholesale makes up 1.1% of UNIVEST FINANCIAL Corp's portfolio, making the stock its 18th largest position. UNIVEST FINANCIAL Corp's holdings in Costco Wholesale were worth $17,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho assumed coverage on shares of Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price objective on the stock. Morgan Stanley increased their target price 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. Evercore ISI reduced their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research note on Thursday, July 10th. Finally, Truist Financial lifted 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. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,037.48.

Costco Wholesale Price Performance

NASDAQ:COST opened at $939.64 on Friday. The firm's fifty day moving average is $984.46 and its two-hundred day moving average is $983.58. The firm has a market cap of $416.71 billion, a price-to-earnings ratio of 53.30, a PEG ratio of 5.77 and a beta of 0.97. 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 Corporation has a one year low of $793.00 and a one year high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The firm had revenue of $63.21 billion for 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 company's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.78 earnings per share. Research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

Insider Activity

In related news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president directly owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president directly owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,472,510 over the last 90 days. Company insiders own 0.18% of the company's stock.

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.

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