VeraBank N.A. Reduces Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

VeraBank N.A. reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,322 shares of the retailer’s stock after selling 25 shares during the quarter. VeraBank N.A.’s holdings in Costco Wholesale were worth $1,701,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Richelieu Gestion SA acquired a new stake in Costco Wholesale during the 4th quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in Costco Wholesale during the 4th quarter valued at approximately $26,000. Morton Brown Family Wealth LLC grew its stake in Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after purchasing an additional 30 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $30,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the 1st quarter worth approximately $32,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $7,228,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Costco Wholesale Price Performance

Shares of COST traded down $2.54 during midday trading on Wednesday, reaching $884.31. The stock had a trading volume of 1,740,527 shares, compared to its average volume of 1,954,451. Costco Wholesale Co. has a 52 week low of $526.15 and a 52 week high of $896.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The firm’s 50 day moving average price is $825.62 and its 200-day moving average price is $751.69. The company has a market capitalization of $392.04 billion, a P/E ratio of 54.79, a P/E/G ratio of 5.82 and a beta of 0.78.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. The company had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. Costco Wholesale’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.43 earnings per share. On average, analysts forecast that Costco Wholesale Co. will post 15.98 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 26th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on COST shares. Truist Financial lifted their target price on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Loop Capital lifted their target price on Costco Wholesale from $890.00 to $940.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Argus lifted their target price on Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Stifel Nicolaus lifted their target price on Costco Wholesale from $850.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Evercore ISI boosted their price objective on Costco Wholesale from $860.00 to $890.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $766.73.

Read Our Latest Research Report on COST

Costco Wholesale 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.

See Also

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 Co. (NASDAQ:COSTFree Report).

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

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