VeraBank N.A. Sells 25 Shares of Costco Wholesale Co. (NASDAQ:COST)

VeraBank N.A. reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 1.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,322 shares of the retailer’s stock after selling 25 shares during the period. VeraBank N.A.’s holdings in Costco Wholesale were worth $1,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Richelieu Gestion SA purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at approximately $26,000. Morton Brown Family Wealth LLC lifted its stake in shares of 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 buying an additional 30 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at approximately $30,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale during the 1st quarter valued at approximately $32,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Trading Down 0.3 %

Shares of COST stock traded down $2.54 on Wednesday, hitting $884.31. 1,740,527 shares of the company’s stock traded hands, compared to its average volume of 1,954,451. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. Costco Wholesale Co. has a one year low of $526.15 and a one year high of $896.67. The company’s fifty day simple moving average is $825.62 and its 200 day simple moving average is $751.69. The stock has a market capitalization of $392.04 billion, a price-to-earnings 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 released its earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, beating the consensus estimate 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 net margin of 2.83% and a return on equity of 30.02%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.43 EPS. Equities analysts forecast that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on COST shares. Telsey Advisory Group restated an “outperform” rating and set a $900.00 price target on shares of Costco Wholesale in a research note on Monday. TD Cowen increased their target price on shares of Costco Wholesale from $777.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Argus increased their target price on shares of Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Truist Financial increased their target price on shares of Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Roth Mkm reiterated a “neutral” rating and issued a $676.00 target price (up from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $766.73.

Check Out Our Latest Report on COST

Insiders Place Their Bets

In other news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.

See Also

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

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