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Costco Wholesale Corporation (NASDAQ:COST) Shares Sold by US Bancorp DE

Costco Wholesale logo with Retail/Wholesale background

Key Points

  • US Bancorp DE reduced its stake in Costco Wholesale by 2.2%, selling 11,765 shares and retaining 532,399 shares valued at approximately $503.55 million.
  • Costco reported a quarterly earnings per share (EPS) of $4.28, surpassing analysts' expectations, and recorded revenue of $63.21 billion for the quarter, marking an 8.0% increase year-over-year.
  • The company announced a quarterly dividend of $1.30 per share, which will be paid on August 15th, representing an annualized yield of 0.5% and a payout ratio of 29.5%.
  • Five stocks to consider instead of Costco Wholesale.

US Bancorp DE trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 532,399 shares of the retailer's stock after selling 11,765 shares during the period. US Bancorp DE owned 0.12% of Costco Wholesale worth $503,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peninsula Wealth LLC boosted its holdings in shares of Costco Wholesale by 1.2% in the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock valued at $749,000 after acquiring an additional 10 shares in the last quarter. Bosun Asset Management LLC boosted its holdings 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 valued at $583,000 after acquiring an additional 10 shares in the last quarter. Corps Capital Advisors LLC boosted its holdings 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 valued at $1,463,000 after acquiring an additional 10 shares in the last quarter. NFP Retirement Inc. boosted its holdings in shares of Costco Wholesale by 1.1% in the fourth quarter. NFP Retirement Inc. now owns 980 shares of the retailer's stock valued at $898,000 after acquiring an additional 11 shares in the last quarter. Finally, Coppell Advisory Solutions LLC boosted its holdings 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 valued at $3,163,000 after acquiring an additional 11 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of COST traded up $12.88 during trading hours on Friday, reaching $952.52. 2,932,630 shares of the company traded hands, compared to its average volume of 2,019,283. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $422.42 billion, a PE ratio of 54.03, a price-to-earnings-growth ratio of 5.84 and a beta of 0.96. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.23. The stock has a fifty day simple moving average of $983.34 and a 200 day simple moving average of $983.82.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted 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. The business had revenue of $63.21 billion for 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%. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.78 earnings per share. As a group, research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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 given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale's payout ratio is currently 29.50%.

Analyst Ratings Changes

Several brokerages have recently weighed in on COST. Evercore ISI lowered their target price on shares of 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. Loop Capital lowered their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a report on Thursday, July 10th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Finally, Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,037.48.

Read Our Latest Analysis on COST

Insider Activity

In other news, EVP Pierre Riel sold 2,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the transaction, the executive vice president owned 8,210 shares of the company's stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,547 shares of company stock worth $9,472,510. Corporate insiders own 0.18% of the company's stock.

About Costco Wholesale

(Free Report)

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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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