Executive Wealth Management LLC Cuts Stake in Costco Wholesale Co. (NASDAQ:COST)

Executive Wealth Management LLC reduced its position in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 9.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,015 shares of the retailer’s stock after selling 419 shares during the period. Executive Wealth Management LLC’s holdings in Costco Wholesale were worth $2,312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Phocas Financial Corp. lifted its holdings in shares of Costco Wholesale by 7.0% in the 3rd quarter. Phocas Financial Corp. now owns 1,536 shares of the retailer’s stock valued at $690,000 after acquiring an additional 100 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Costco Wholesale by 6.6% in the third quarter. Captrust Financial Advisors now owns 73,591 shares of the retailer’s stock valued at $33,068,000 after acquiring an additional 4,548 shares during the period. Summit Trail Advisors LLC bought a new stake in shares of Costco Wholesale in the 3rd quarter worth about $222,000. Capstone Triton Financial Group LLC boosted its stake in shares of Costco Wholesale by 12.3% during the 3rd quarter. Capstone Triton Financial Group LLC now owns 1,473 shares of the retailer’s stock worth $722,000 after purchasing an additional 161 shares during the period. Finally, Studio Investment Management LLC bought a new position in shares of Costco Wholesale during the third quarter valued at approximately $241,000. 67.52% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale stock opened at $459.96 on Thursday. The business’s 50-day moving average price is $496.50 and its 200 day moving average price is $522.53. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The firm has a market cap of $203.74 billion, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 3.87 and a beta of 0.71. Costco Wholesale Co. has a 52 week low of $390.59 and a 52 week high of $612.27.

Costco Wholesale (NASDAQ:COSTGet Rating) last issued its quarterly earnings data on Thursday, May 26th. The retailer reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.03 by $0.01. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The business had revenue of $52.60 billion during the quarter, compared to the consensus estimate of $51.49 billion. During the same quarter in the prior year, the firm posted $2.75 earnings per share. The company’s revenue was up 18.5% compared to the same quarter last year. Equities analysts expect that Costco Wholesale Co. will post 13.02 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, April 28th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.79. Costco Wholesale’s payout ratio is presently 28.35%.

Several brokerages have weighed in on COST. Credit Suisse Group lowered their target price on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, May 27th. Citigroup reduced their price target on Costco Wholesale from $590.00 to $510.00 and set a “neutral” rating for the company in a research report on Friday, May 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on Costco Wholesale from $530.00 to $525.00 in a research note on Wednesday, May 25th. Truist Financial lifted their target price on Costco Wholesale from $503.00 to $543.00 and gave the company a “buy” rating in a research note on Friday, May 27th. Finally, Evercore ISI raised their price target on shares of Costco Wholesale from $605.00 to $610.00 in a report on Thursday, April 7th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $569.56.

In related news, EVP Claudine Adamo sold 500 shares of the stock in a transaction on Friday, April 8th. The stock was sold at an average price of $602.03, for a total value of $301,015.00. Following the completion of the transaction, the executive vice president now directly owns 9,939 shares of the company’s stock, valued at approximately $5,983,576.17. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy L. Rose sold 4,000 shares of the firm’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $566.29, for a total value of $2,265,160.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,998 shares of company stock worth $5,278,469. Insiders own 0.22% of the company’s stock.

Costco Wholesale Profile (Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It 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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