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Wealthspire Advisors LLC Cuts Position in Costco Wholesale Corporation (NASDAQ:COST)

Costco Wholesale logo with Retail/Wholesale background

Key Points

  • Wealthspire Advisors LLC reduced its position in Costco Wholesale Corporation by 4.0%, owning 15,487 shares worth approximately $14.65 million after selling 644 shares in the first quarter.
  • Costco reported $4.28 EPS for the latest quarter, surpassing analysts' expectations, with revenue of $63.21 billion and a year-over-year growth of 8.0%.
  • The company plans to pay a $1.30 quarterly dividend on August 15th, with a yield of 0.5% and a dividend payout ratio of 29.50%.
  • Five stocks to consider instead of Costco Wholesale.

Wealthspire Advisors LLC lessened its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,487 shares of the retailer's stock after selling 644 shares during the period. Wealthspire Advisors LLC's holdings in Costco Wholesale were worth $14,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale in the 4th quarter worth about $25,000. Aspect Partners LLC boosted its holdings in shares of 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 purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $58,000. Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co boosted its holdings in shares of 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 purchasing an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of COST stock opened at $955.37 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average price of $982.28 and a 200 day moving average price of $984.78. The company has a market cap of $423.68 billion, a P/E ratio of 54.19, a PEG ratio of 5.92 and a beta of 0.96. Costco Wholesale Corporation has a 12 month low of $793.00 and a 12 month 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 during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.78 earnings per share. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, August 1st. Costco Wholesale's dividend payout ratio is currently 29.50%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president owned 58,543 shares in the company, valued at $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's 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 owned 5,774 shares of the company's stock, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,547 shares of company stock worth $9,472,510. Insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on COST shares. Loop Capital lowered their target price on 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. Truist Financial boosted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a report on Monday. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Morgan Stanley boosted their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,037.48.

Check Out Our Latest Report on COST

Costco Wholesale Company Profile

(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.

Featured Articles

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).

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

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