Windward Capital Management Co. CA Reduces Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Windward Capital Management Co. CA reduced its stake in Costco Wholesale Corporation by 2.9%, now owning 69,831 shares valued at approximately $66 million.
• Several institutional investors, including Aspect Partners LLC and Bank & Trust Co, have increased their holdings in Costco, reflecting continued institutional interest.
• Costco announced a quarterly dividend of $1.30 per share, with a payout ratio of 29.5%, and reported a revenue increase of 8.0% year-over-year in its latest earnings report.

Windward Capital Management Co. CA decreased its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,831 shares of the retailer's stock after selling 2,117 shares during the quarter. Costco Wholesale makes up 5.7% of Windward Capital Management Co. CA's holdings, making the stock its 3rd largest holding. Windward Capital Management Co. CA's holdings in Costco Wholesale were worth $66,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale during the 4th quarter worth $25,000. Aspect Partners LLC lifted its stake 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 purchased a new stake in shares of Costco Wholesale during the 4th quarter worth $58,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter worth $59,000. Finally, Bank & Trust Co lifted its stake 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. Institutional investors own 68.48% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. 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 Monday, August 4th. JPMorgan Chase & Co. upped their price objective on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Truist Financial increased their price target 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. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Morgan Stanley increased their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Costco Wholesale has an average rating of "Moderate Buy" and a consensus target price of $1,050.00.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president directly owned 5,774 shares of the company's stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction dated 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 approximately $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock valued at $9,472,510 in the last three months. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Trading Down 0.3%

Shares of NASDAQ:COST opened at $972.04 on Friday. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The stock has a market cap of $431.08 billion, a price-to-earnings ratio of 55.14, a PEG ratio of 6.04 and a beta of 0.96. 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 business has a 50-day moving average price of $972.25 and a 200-day moving average price of $986.08.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $63.21 billion during the quarter, compared to analysts' expectations 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 for the quarter 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. Equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) 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.

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.